Soybeans were higher overnight on report showing Brazil buys US supply amid strong global demand for oilseeds
Exporters load a shipment of 38,000 metric tonnes of soybeans for delivery to Brazil, Reuters reported, citing a range of shipping Brazil grapples with rising food prices, the report says
Since the start of the marketing year in September 1, foreign buyers have purchased 306 million tonnes of corn from the US, up 168% from the same period last year Soybean sales have jumped 145% year-over-year to nearly 47 million metric tonnes, USDA data shows
Wheat sales since the start of the cereals marketing year on June 1 are now 163 million metric tonnes, up 11% from the same period last year, according to the government
Soybean futures for January delivery rose 5 3/4 ¢ to $ 10 70 a bushel overnight at Chicago Board of Trade Soybean meal gained $ 480 to $ 382 a short ton and oil soybeans added 003 ¢ to 3381 ¢ per pound
Wheat futures for December delivery fell 2 1/2 ¢ to $ 6.05 a bushel in Chicago while Kansas City futures added 1 1/2 ¢ to $ 5.58 a bushel
It’s the day after the election and there is still no clear winner in the presidential race
As early as Wednesday morning, Reuters showed US President Donald Trump with 213 electoral college votes and former Vice President Joseph Biden with 224, but ballots are still being counted in major battlefield states
Results so far show Trump leads in Pennsylvania, Michigan, North Carolina and Georgia, while Biden leads in Wisconsin, Arizona and Nevada
The Corn Belt states mostly leaned to the right with Trump winning Iowa, Indiana, Kansas and Nebraska and Biden winning Minnesota and Illinois
Senate races were also close, with results now showing Republicans winning 47 seats and Democrats winning 46 with seven seats still to be won.
Sen Joni Ernst of Iowa and Sen Ben Sasse of Nebraska both won reelection, as did Mike Rounds in South Dakota, Roger Marshall in Kansas and Jim Inhofe in Oklahoma. All are republicans
Midwestern states have also remained predominantly red in congressional races, though the 218-seat majority has yet to be reached and ballots are still counted in several states.
In the country’s gubernatorial races, Republicans have won a seat and now hold a 27-23 majority over their Democratic counterparts
Weather charts are again relatively calm this morning with dry weather, according to the National Weather Service, which should allow the latest harvest to be completed
Extremely dry weather in parts of Colorado and Kansas is creating « critical fire weather » that could lead to wildfires, NWS said in a report early this morning.
Temperatures are expected to reach record highs and « windy conditions » are forecast for much of the southern plains.
Dangerously dry weather is expected to last until the weekend before a cold front arrives from the west, the agency said
Unusually hot and dry weather is also forecast today in southern Missouri and far southeastern Kansas, where wildfires are also a threat, the NWS said.
I used old sheets of wire corncrib to make screens for my grain silo sumps The pieces are cut and folded and then braced with a piece of reinforcement along read more
Soybean, US President, US Presidential Election 2020, Brazil, Donald Trump
World News – AU – 3 Big Things Today, November 4 2020
Associated title :
– 3 Big Things Today, November 4, 2020
– American soybeans being loaded in Louisiana for Brazil
– Tight presidential vote in US limits price movements
– Brazil’s corn exports in October reached 52m mt, beans 25m mt
– Morning markets: tight US election results prompt investors to turn around
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