Headlines:
- Suspected bombs mailed to top Democrats two weeks before U.S. election
Police intercepted suspected bombs mailed to former U.S. President Barack Obama, former presidential candidate Hillary Clinton, and other high-profile Democrats, in what New York officials described on Wednesday as an act of terrorism. With the country deeply polarized, the packages brought a new level of tension to Nov. 6 political contests that will decide whether Democrats can challenge the majorities now held by Trump’s Republicans in Congress. The CNN bureau in New York also received a device looking like a pipe bomb, leading police to evacuate the building, and New York Governor Andrew Cuomo, a Democrat, said his office also received a suspicious package. CNN reported that Eric Holder, who was U.S. attorney general under Obama, was also among those targeted. “This clearly is an act of terror attempting to undermine our free press and leaders of this country through acts of violence,” New York Mayor Bill de Blasio told a news conference. U.S. President Donald Trump condemned what he called “despicable acts” and vowed to bring those responsible to justice. “In these times, we have to unify, we have to come together, and send one very clear, strong, unmistakable message that acts or threats of political violence of any kind have no place in the United States of America,” Trump said at the White House. “We’re extremely angry, upset and unhappy about what we witnessed this morning, and we will get to the bottom of it,” Trump said.
- S. oil prices up after sharp drop in fuel stocks
Oil prices rose modestly on Wednesday, rebounding after several days of weakness as a much bigger-than-expected drawdown in U.S. gasoline and diesel inventories augured a seasonal increase in refining demand.
Summary:
Corn futures traded lower in sympathy with the wheat market that was down double digits intraday. A slight increase in ethanol production and tighter stocks helped to mitigate what could have been a larger decline in corn prices. Weekly ethanol production was reported at 1.02 million barrels per day, an increase of 13.0 million barrels per day. Ethanol stocks were lower at 23.90 million barrels. Very little of the crop is getting sold. Weekly export sales estimates are 400k metric tons to 800k metric tons. Soybean prices traded lower under the weight of harvest pressure and spillover weakness from the complex. Beneficial weather has aided rapid harvest activity this week. Weekly export sales estimates are 300k metric tons to 700k metric tons for beans, 50k metric tons to 300k metric tons for meal and 0 to 22k metric tons for soybean oil. Wheat traded lower after breaking key support and a strong USD piled onto the pressure. Weak export sales also added to the mix. Weekly export sales are estimated between 200k metric tons to 500k metric tons.
