Grains continued to sink lower following Monday’s sharp sell-off in wheat. In outside markets, the US Dollar index fell below 100 for the first time since early February while crude oil was trying to find stability in the $49 a barrel territory.
Grains moved higher overnight led by soybeans as they moved above $10 a bushel on front month May. Outside markets saw crude oil and equities higher while the US dollar hit their lowest mark since early February.
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Grains were in recovery mode on Wednesday after two weeks of sliding lower. In outside markets, crude oil was trying to bounce off its worst prices in 3.5 months while the US dollar was weaker to start the day ahead of the Fed announcement.