Robust Export Pace Continues

在下周三美国农业部11月的农作物报告中，人们对不断增长的大豆生产数字的期望继续增加。昨天，Informa将他们的大豆产量预测提高到51.4的10月与USDA的每英亩52.4蒲式耳，并于10月的10月预测为51.6。但是，在过去的5个每周销售中，有4个表现出大于2 mmt的大豆销售额，出口速度仍然保持强劲。从历史上看，美国农业部在11月的报告中倾向于低估出口，而6个月后的5月份的报告。在过去的十年中，美国农业部在这些年的11月预测中的预测与5月的预测相比，平均而言，他们错过了65 MB的成绩。

Overnight Japan bought 153,156 MT of food wheat in a usual tender. Of the total 58,800 MT is from the US while the rest goes to Canada and Australia.

Equity markets continue to be defensive ahead of the US election on Tuesday. With the polls tightening investors remain cautious about the outcome and potential implications of each candidate. This morning US jobless numbers were a bit disappointing as new jobs grew 161,000 but were below expectations of 175,000 and last month’s reading of 191,000.

—Kevin McNew