USA: Grain markets await direction that’s likely to come from election results

The week showed losses of a few cents during the week, but it appeared that the week would end with steady to small gains for the major commodities. Koenen indicated that the election on Tuesday, Nov. 5 is one newsworthy item that should give the markets some direction. Another possible mover is the continued conflict between Israel and Iran. Exports were fantastic last week and have slowed down this week. Martinson said there are two philosophies out there that are expected to continue to have influence in the grains moving into next week. One of them is that the U.S. is seeing tremendous export demand due to expectations that if Trump is reelected, his administration may bring back tariffs that could drastically impact exports. The other is that with harvest finishing, it’s becoming clear that there are smaller piles and smaller yields. USDA may have to lower its expectations. Koenen added that there is a two-sided weather story not helping the U.S. grains. The U.S. is suffering ...