3 Big Things Today, November 1, 2024 [Video]

Soybean and grain futures were higher in overnight trading on signs of strong demand for U.S. agricultural products. 

Exporters sold 150,000 metric tons of soybean meal to an unnamed buyer for delivery in the 2024/2025 marketing year that started on Sept. 1, the U.S. Department of Agriculture said in a report yesterday. 

The agency on Wednesday reported soybean sales of 132,000 tons to China and 132,000 tons to an unknown destination, and sales of 273,048 tons of corn to unnamed countries. 

Overseas buyers have committed to purchase 26.3 million metric tons of soybeans since the start of the marketing year, up 13% from the same timeframe a year earlier, USDA data shows.

Corn sales since the beginning of September are up 41% to 25.8 million metric tons, the government said. 

Wheat sales since the start of the grain’s marketing year on June 1 are now at 13.6 million metric tons, …