Grains were higher this morning with soybeans reaching new heights on the rally, briefly getting close to $11 a bushel on front-month July futures. In outside markets, crude oil was also chartering fresh ground eclipsing $50 a barrel, its highest mark since last October.
Grains moved lower yet again overnight with soybeans continuing their sell-off reaching their lowest mark since the May 10 crop report. In outside markets, the US dollar was stronger as was equity futures and crude oil.
Grains started the week in negative territory with soybeans facing the biggest brunt of the selling pressure. In outside markets, crude oil fell for a 4th consecutive session and equity futures were steady to weaker in early trade.
Grains found strength overnight with soybeans leading the complex higher while corn and wheat followed with more subdued gains. In outside markets, equity futures were higher while crude oil and the US dollar were mostly steady.