3 Big Things Today, November 16

Child’s toy tells a story of a forgotten aspect of farm life

1. SOYBEAN, CORN FUTURES RISE OVERNIGHT ON STRONG DEMAND

Soybeans improved in the overnight session, building on Tuesday’s strength, amid strong demand for U.S. supplies and concerns about crops in South America.

Private exporters reported sales of 121,500 metric tons of soybeans for delivery to China in the current marketing year, the Department of Agriculture said in a report. Exporters also sold 126,000 tons of soybeans to unknown buyers.

On Monday, the USDA reported sales of 324,000 tons of soybeans to China and 132,000 tons to unknown buyers. The agency also said exporters sold 175,000 tons of grain sorghum to China.

Extremely wet weather in Brazil and Argentina recently has left some farmers unable to plant fields in some areas and unable to harvest crops in others, according to weather forecasters.

Soybeans for January delivery rose 4 ¼ cents to $9.93 ¾ a bushel on the Chicago Board of Trade. Soy-meal futures for December delivery gained 20 cents to $310.30 a short ton and soy oil added 0.28 cent to 34.49 cents a pound.

Corn futures for December delivery gained 1 ½ cents to $3.43 a bushel in...(READ MORE) @ Agriculture.com and find out what #2 and #3 are.