11/2/2020
Nov 02, 2020
Finally, election day is tomorrow, so we can get that unknown out of the way and you can get your radio station back with less ads. The market feels nervous yet comfortable at this point. Grains traded down 5-10 overnight, but battled back this morning before finishing the day slightly lower. Brazil's planting pace has rapidly increased after recent rains helped suit planting conditions. Overall demand remains strong as harvest should finish this week. We will get an updated harvest progress tonight. Estimates have corn at 83% and beans at 91% complete. Farmer selling has slowed since the beginning of last week with the drop in the futures. Basis has improved in the meantime as ethanol starts to look for corn as movement slows down off the combine. Other news is rather light as the next USDA report is not until next Tuesday November 10th.