Floor Talk October 2
In early trading, the December corn futures are unchanged at $3.65. March futures are unchanged at $3.77.
November soybean futures are 3/4¢ higher at $8.58. January soybean futures are 3/4¢ higher at $8.72.
December wheat futures are 3 1/4¢ lower at $5.06.
December soymeal futures are 1.80¢ per short ton lower at $312.00.
December soy oil futures are $0.16 higher at 29.47¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.07 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 9 points higher.
Soybeans and corn were slightly lower overnight on some profit taking after the crop progress report showed the harvest accelerated in some areas despite rain and flooding in parts of Iowa and Illinois. Beans were down 2 cents while corn was off by just over a penny. Wheat was little changed. The USDA's export inspections report showed bean assessments were lower week-to-week while corn was little changed. Wheat was down week-to-week and have been pretty dismal so far this year. In weather news, the area of Iowa that's already seeing a bunch of flooding likely will get more rain starting tomorrow as another round of storms moves through. Check out today's 3 Big Things for all the details.
West Texas Intermediate = up 0.1%.
Brent Crude = down 0.4%.
Dollar = up 0.4%.
Wall Street = U.S. stock lower pre-market.
World Markets = Global stocks mixed overnight.