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Veteran Contributor

Floor Talk May 5

Wheat futures rose overnight on concern about potential damage caused by last weekend's snowstorm in Kansas. Though I'm quite unsure how traders ignored that yesterday, but I don't live on Jackson Street anymore. Anyway, Chicago wheat was up about a penny while Kansas City wheat was up about 3 cents. Corn gained 1 cent and soybeans lost 2 cents. It's not going to stop raining in parts of the Midwest where flood and flash-flood warnings are now in effect. More rain is expected in parts of central Indiana and perhaps western Ohio today, according to the National Weather Service. I read that, in what I think was someone trying to make good news out of the rain, that no parts of the Midwest are even abnormally dry anymore thanks to the recent precip. I guess that's one way to look at it. Try to stay dry this weekend, folks. 


Here's what happened overnight:


Brent Crude Oil = down 0.1%.  

West Texas Intermediate Crude Oil = up 0.1%. 

Dollar = up 0.1%.

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

World Markets = Global stocks mixed ahead of French election Sunday.

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2 Replies

Re: Floor Talk May 5

Wow after a week of some of the worst weather we have ever seen in early May the markets are lower than before the storms.?. Either the traders don't give a **** about reality, or it is as we all have stated before the weather market is a fixed variable to benefit strictly one side of the trade. When it's in their benefits they use it, when it's not they ignore it. Some way to earn a living huh must be trickle down scumbagism. Happy Cinco de Mayo for those of us who still consider Mexico an alliance.
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Veteran Advisor

Re: Floor Talk May 5

What price would you sell at?

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