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Tony_Dreibus
Veteran Contributor

Floor Talk May 11

Wheat and soybeans were higher overnight while corn was little changed. Wheat rose on continuing concerns about the hard-red winter crop in the southern Plains due to the snowstorm a couple weeks ago -- the damage assessments should be rolling in soon -- and soybeans gained after stockpiles came in a bit lower than expectations in the WASDE report. Wheat gained 2-3 cents, soybeans were up about 3 cents while corn was down half a penny. Weatherwise, the southern Plains is getting rain on already saturated fields, but the precip may help finish out some hard-red winter crops. Flooding continues in the Midwest, though the rain may actually stop for a few days starting this afternoon. 

 

Here's what happened overnight:

 

Brent Crude Oil = up 1.3%.  

West Texas Intermediate Crude Oil = up 1.3%. 

Dollar = down 0.1%.

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

World Markets = Global stocks mixed on rising oil prices. 

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