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.