Tuesday November 17, 2020

• Soybeans continue the charge higher this morning surpassing four and a half year highs – very strong crush numbers out yesterday adding fuel to the strong bean demand story 
• U.S. harvest 
  • Corn 95% complete – average 87% done
  • Soybeans 96% complete – average 93% done
  • Winter wheat planting 96% – average 94%done 
• Dryness in South America remains a concern as key Brazilian state missed rains again overnight
• NOPA crush report from yesterday showed October soybean crush 8 million bu more than expected at a record 185 million bu 
  • Strong crush margins have plants running at full capacity