Floor Talk March 14
Wheat futures rose overnight on forecasts for more dry weather in the southern Plains. Little or no rain has fallen in most of the region in the past 90 days, causing some growers worry as plants are set to emerge from winter dormancy.
At 6:15 am:
Brent Crude Oil = 1.5% lower.
West Texas Intermediate Crude Oil = 2% lower.
Dollar = up 0.3%.
Wall Street = U.S. stock futures slightly lower in pre-market trading.
World Markets = Global stocks higher as investors soak in European Central Bank stimulus plans.
Re: Floor Talk March 14
Grains were mixed and soybeans were lower at the open on Monday as investors weigh slack demand and large inventories against a record net-short position in corn.
Corn futures for May delivery gained 1 cent to $3.66 a bushel in early trading on the Chicago Board of Trade.
Soybean futures for May delivery fell 3 cents to $8.92 3/4 a bushel in Chicago. Soymeal futures declined $2 to $271.50 a short ton, and soyoil lost 0.09 cent to 32.04 cents a pound.
Wheat contracts for May delivery in Chicago dropped 2 3/4 cents to $4.73 a bushel, while Kansas City futures added 3/4 cent to $4.83 3/4 a bushel.