Floor Talk December 7
Soybeans were lower in overnight trading as the short-lived two-day rally dried up as if investors suddenly remembered there's a record crop in the bin. Losses were limited, however, as corn and beans were both down less than 2 cents in the overnight session. Part of the reason for the strength, other than the much-ballyhooed demand from China, may be South American weather. It's dry in Brazil and Argentina and little relief is in sight, at least not for the next 10 days.
Here's what happened overnight:
Brent Crude Oil = 0.5% lower.
West Texas Intermediate Crude Oil = 0.4% lower.
Dollar = unchanged.
Wall Street = U.S. stock futures little changed in overnight trading.
World Markets = Global stocks higher as investors bet on banks.