The soybean market pushed higher above the 100 day moving average early Monday morning.
In the overnight the grains are higher with soybeans leading the charge up 7 1/2 cents, wheat up 4 1/4 cents higher and corn down 1/2 a penny. July soybeans now trades above $9.74 which is the 100 day moving average after closing Friday below that level. Crude oil is up 22 cents this morning...
Wet weather continues to be a concern for the markets.
Grains dipped lower in the night trade after taking a breather from the two-day rally that pushed soybean prices to their highest level in a month. Going into the morning break, soybeans were down 5, corn was down 1 and wheat was fractionally higher.
Declining crop conditions have markets moving higher.
Grain futures continued their recovery in the night session as heavy rains and declining crop conditions have the markets moving higher. Corn was up 3 cents a bushel while wheat and corn are up 6 cents a bushel.
In wheat, heavy rains from Tropical Storm Bill will push through Eastern...
Monday brought a new week of intense selling pressure in the grains and Tuesday’s overnight trade found only a modest recovery from the lows established the day before. In night trade, wheat was up 4, corn was up 2, and nearby soybeans posted a 5 cent advance.
In the overnight session the grains were mostly unchanged with corn down 1 ½ cents, soybeans down ¼ cents and wheat up 1 ¼ cents going into this morning’s pause. The U.S. dollar is up .3 percent and crude oil is trading lower by 73 cents.