Floor Talk December 15
Wheat was lower in overnight trading Thursday as snowfall is expected in parts of Kansas, Oklahoma and the Texas Panhandle, offering a protective layer of snow for winter wheat plants. Some winterkill may occur this week, however, as temperatures have been and will continue to be extremely low. The Arctic cold front continues in the northern US as wind chills are expected to be as low as minus-30 degrees. The Federal Reserve hiked its federal funds rate yesterday, a widely expected move, which could drive up the cost of purchasing land or large equipment.
Here's what happened overnight:
Brent Crude Oil = 0.1% lower.
West Texas Intermediate Crude Oil = 0.3% higher.
Dollar = up 1.2%.
Wall Street = U.S. stock futures lower in overnight trading.
World Markets = Global stocks higher as Bank of England leaves rates unchanged.