Floor Talk October 9
Soybeans were slightly lower in overnight trading Tuesday ahead of Thursdays' WASDE report, in which the USDA is expected to raise its outlook for ending stocks. Beans were down about 2 cents, corn lost a tick and wheat was down 1-2 cents overnight. President Trump is expected to announce an end to a rule banning sales of E15 ethanol during the summer. The rule was implemented for environmental purposes but its benefits are questionable. In weather news, more rain is hitting the southern Plains and central Midwest where flooding was already a problem after a couple weeks of rainfall. That's keeping farmers out of fields and delaying the harvest. Check out today's 3 Big Things for all the details.
West Texas Intermediate = up 0.6%.
Brent Crude = up 0.8%.
Dollar = up 0.4%.
Wall Street = U.S. stock mixed pre-market.
World Markets = Global stocks mostly lower overnight.
Re: Floor Talk October 9
How are elevators handling the loss of storage revenue that can't be recovered? Would be interesting to know how much revenue is lost every week the crop harvest is delayed.