Floor Talk March 26
Soybeans and corn were higher overnight as investors are more worried about the continued dry weather in Argentina than they are about China potentially imposing tariffs on US beans. Dry weather is expected to continue in Argentina where two-thirds of growing areas are already under drought stress. Beans added 6 cents and corn was up 2 cents. Wheat, meanwhile, declined 3-5 cents overnight. The Commodity Futures Trading Commission said on Friday that analysts lowered their net-long positions, or bets on higher prices, in corn, soybeans and hard-red winter wheat while almost doubling their net-short positions in soft-red winter futures. In weather news, there's a thunderstorm warning for parts of eastern Oklahoma, central Missouri and parts of Illinois. In the northern Plains, meanwhile, more snow threatens. Check out all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-march-26.
Brent Crude Oil = down 0.1%.
West Texas Intermediate = down 0.2%.
Dollar = down 0.3%
Wall Street = U.S. stock futures higher in pre-market trading.
World Markets = Global stocks higher overnight.