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Weather’s Impact on Oil, Corn

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  • Description

    FBN’s Jeff Flock on how the weather is impacting markets and commodities.

  • Duration 1:52
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But oil is still trading below the thirty -- vows support -- -- -- -- in the pits in the -- -- more on this Jeff 600000 barrels taken off line into the tropical storm -- and -- react.

It's weather in both corn and oil and the reason there's no reaction is this economy I think on the oil but first let me do corn because that's where the action is -- -- had room right here.

At the CME today take a look at the oil board.

-- limit yesterday up about half -- today that -- Tierney with me.

Had resource.

Company you've got a your your clients are farmers.

And there also your intelligence what is your intelligence telling you about this -- in the midwest right now well number of -- producers are nervous about how much they've may have sold already cover we think this is a pricing opportunity we put out this morning.

A recommendation that they sell at least 20% that's -- for sale of their upcoming crop OK but I wanna look at the Indiana numbers from Purdue university and we got some important numbers today talking -- sub soil moisture.

It looks like about 88 -- 87%.

Of the -- -- it is short of sub soil moisture right now and a very small percentage.

Is is looking good in terms of crop it's the worst since the 88 -- what do you think would definitely Indiana is ground zero for the issues drought this year's drop was probably when the sneaky is ones.

Because it could develop very very slowly and -- stick in the market a while to understand -- but its impact could be an.

And -- the market is now starting to react we will be out on the farm tomorrow join us tomorrow out on the -- As we look in just look at that dry condition and wait for rain it's not in -- forecast any time soon.

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