Floor Talk March 7

[Tony_Dreibus]

At mid-session:

At mid-session, the May corn futures are 1/4¢ higher at $3.88. July futures are unchanged at $3.95. May soybean futures are 6¢ lower at $10.68.  July soybean futures are 5 3/4¢ lower at $10.77. May wheat futures are 2 1/2¢ lower at $5.04. May soy meal futures are $2.40 per short ton lower at $385.60. January soy oil futures are 0.37 lower at 32.11¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.43 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 286 points lower.

Mike

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At 9:10am:

In early trading, the May corn futures are 1/4¢ higher at $3.88. July futures are unchanged at $3.95. May soybean futures are 3 1/4¢ lower at $10.71.  July soybean futures are 3 1/4¢ lower at $10.79. May wheat futures are 1 3/4¢ higher at $5.08. May soy meal futures are $0.20 per short ton lower at $387.80. January soy oil futures are 0.28 lower at 32.20¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.89 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 192 points lower.

Mike

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Soybeans were lower in overnight trading as investors seek further bullish news to push prices beyond their highest levels in more than a year. Wheat also fell. Beans were down a nickel, wheat was off by 1-3 cents and corn was down about a penny. The Food and Agricultural Organization of the UN said in a report this week that South American corn farmers planted under "generally favorable" conditions, though production is expected to be down from record levels due to decreased planting. In weather news, the blizzard that's been beating the upper Midwest the past few days has finally moved on. Flooding, however, is still a problem in Arkansas, Mississippi and Tennessee. Get all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-march-7

Brent Crude Oil = down 0.4%.

West Texas Intermediate = down 0.4%.

Dollar = down 0.1%

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

World Markets = Global stocks higher overnight.