The political uncertainty in the US could turn the markets down

Yesterday the US stock market continued speculative growth, and major indexes rose another 1.3% to 3.8%. The Dow Jones index rose 1.35%, S&P 500 by 2.25% and the NASDAQ by 3.85%. Investors are hoping that even in case of victory of Biden, the Democrats will not have a majority in the Senate and will not be able to implement the promised tax increases for the rich and other "socialist" ideas.

But the political uncertainty yesterday already resulted in a decrease in the yield of US Treasury bonds, shares of American banks and oil prices. The January futures for Brent crude on London's ICE Futures exchange fell 2.2 percent to $40/barrel, while December futures for WTI crude oil on the new York NYMEX - 2.5% to 37.8 $/barrel.

soybean Futures on the US stock exchange yesterday increased another 2% to a 4-year high of a $408/MT, but later returned to previous levels.

Prices supported by the data on export sales of soybeans from the United States. Despite the fact that during the week they fell by 6% to 1.53 million tonnes, said traders are optimistic the fact that a party of 800 thousand tons of soybeans purchased China, 15 October bought U.S. soybeans. Export sales of corn for the week rose 16% to 2.6 million t, primarily due to sales to Mexico, then to China as the sales of maize not recorded.

December futures for soybean oil in the US rose yesterday by 1% to 778,6 $/ton, although during the session even reached 786 $/t. quotations of wheat and corn also first grew up, but later returned to yesterday's levels.

Today, the markets will remain under pressure of political uncertainty in the US, where the final results of the elections according to various estimates may appear until November 10. And then prices will have to wait for the updated balance of supply and demand, USDA.