Floor Talk December 16
Soybeans were 3 cents higher and corn was up about a penny in overnight trading after a strong export sales report yesterday. Soybean exporters sold 2 million tons in the week through Dec. 8, up 44% week-to-week, and corn sales totaled 1.5 million tons, up 1%. Overseas buyers have been jumping on U.S. corn and beans thanks to the low prices. They know they're getting a good value. China even bought some soybeans for delivery in the 2017-2018 marketing year that doesn't start for more than nine months.
Here's what happened overnight:
Brent Crude Oil = 0.9% higher.
West Texas Intermediate Crude Oil = 0.5% higher.
Dollar = down 0.2%.
Wall Street = U.S. stock futures higher in overnight trading.
World Markets = Global stocks higher, following oil prices.