Grain > Commentary > 11-9-2020

11/9/2020

Nov 09, 2020

11/9/2020
News broke this morning that Pfizer and their German partner Biontech announced they have a Covid-19 vaccine that is 90% effective and could be available by December. They intend to ask the Food & Drug Administration to allow early release of the vaccine. 90% effective is pretty impressive and is a game changer.  Obviously, it will take some to roll something like that out in the type quantity needed, but it’s a good start and the markets liked the news.  The Dow is currently up about 1,000 points and traded as high as 1,700 higher to exactly the 30,000 on the mini Dow futures.  Beans were the leader today as there are still weather concerns in South America as well.  The USDA announced the sale of 123,000 MT’s soybeans to unknown this morning.  Tomorrow is the release of the USDA report, which could shape up to be a wild one, so buckle in.
 

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