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Corn and soybeans closed sharply higher as traders linked the rally to the U.S. election, with Hillary Clinton seen as leading. Corn gained 7-8 cents and beans about 12 cents, and the article notes that drought in Brazil and Argentina limits their export supplies.
Election-driven buying is likely to fade, but reduced South American export supplies provide underlying support for U.S. corn and soybean prices.
kdhlradio.comJerry GroskreutzNov 8, 2016Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Reports tie the sharp corn and soybean rally to election-related sentiment, but it is dated 11-08, after the 11-07 move window, so it may only partly reflect the same buying momentum.
