Floor Talk August 13
Soybean and corn futures were lower in overnight trading on carryover selling from Friday's WASDE report in which the USDA forecast larger-than-expected production, yield and stockpiles for both crops. Beans fell 6 cents, corn declined about 4 cents and wheat dropped 10-12 cents in overnight trading. Money managers reduced their net-short positions in corn and soybeans last week on declining crop ratings. In weather news, rain that's moved through Texas and into Oklahoma is heading for parts of Missouri and eastern Kansas where little or no precip has fallen in the past 30 days, according to the National Weather Service. Check out today's 3 Big Things for all the details.
West Texas Intermediate = down 0.4%.
Brent Crude = down 0.1%
Dollar = up 0.1%.
Wall Street = U.S. stock lower pre-market.
World Markets = Global stocks lower overnight.