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Veteran Contributor
Posts: 531
Registered: ‎09-09-2014
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Floor Talk March 16

Looks like the same story from yesterday, but beans and corn were higher on bargain hunting and wheat was higher on adverse weather. The freeze for the past couple of nights isn't doing the soft-red winter crop any favors and the weather continues to be dry in the southern Plains just as hard-red winter's about to come out of dormancy. Beans were up about 7 cents, corn gained about 3 cents and wheat was up 2 cents. The Federal Reserve yesterday raised its base interest rate thanks to continued strenght in the economy, and analysts are expecting another two or three increases this year. That means if you were planning on buying any new land or equipment this year, you can expect an increased cost to borrow. 


Here's what happened overnight:

 

Brent Crude Oil = 0.8% higher. 

West Texas Intermediate Crude Oil = 0.9% higher.

Dollar = down 0.1%.

Wall Street = U.S. stock futures higher in pre-market trading.

World Markets = Global stocks higher, again following crude.

Esteemed Advisor
Posts: 2,477
Registered: ‎04-29-2011
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Re: Floor Talk March 16

Who needs to borrow?   Smiley Wink

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Veteran Contributor
Posts: 531
Registered: ‎09-09-2014
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Re: Floor Talk March 16

Hopefully nobody since interest rates are going up. Wife and I decided against buying a house, for now, but may regret that later if interest rates keep going up and up and up like they're supposed to for the next couple of years. Any rate with a `3.' in front of it is looking mighty fine these days.