11/05/24 Exiting of the Roundabout

It feels like we have been living the comedy movie from the 1980’s European Vacation where Chevy Chase and crew continued to go around the roundabout forever not knowing how to exit. Well the end result of billions of dollars is coming to fruition for one candidate starting today. The markets have been dissected about cause and effect of each candidate and what once seemed so scary hasn’t moved the needle at all, at least not yet today as we start the morning wildly up 1/4 cent on December corn and 2 higher on soybeans. What was expected to be the most sensitive market today, the equities are also quite so far. I’m guessing that changes as more exit polls are released later today. For everybody at home saying this rash of exports is 100% political hedging, remember they can cancel those sales if the non-tariff person gets elected, until they are lifted it remains a risk.