Wheat futures rose overnight as the dry weather in the northern Plains continues. Half of North Dakota is still in extreme or exceptional drought, the worst possible ratings for the US Drought Monitor, as is about 13% of South Dakota -- not good for crops in critical growth stages up that way. Wheat added 2-3 cents, corn was up less than a penny and beans gained 2 cents overnight.
In weather news, not much rain is expected today in much of the Midwest as storms will be isolated and intermittent in much of Nebraska and Iowa. In eastern Iowa and Illinois, precipitation isn't expected until after midnight, and even then it's not going to be much, forecasters said. Check out all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-august-9.
Here's what happened overnight:
Brent Crude Oil = up 0.7%
West Texas Intermediate = down 0.6%
Dollar = down 0.1%.
Wall Street = U.S. stock futures lower in pre-market trading.
World Markets = Global stocks down after Trump, Kim Jong Un trade threats.
