Soybeans, bean meal and corn futures all gapped and closed sharply higher Monday with soybeans and meal reaching new contract highs over the continued warm and dry pattern and falling production estimates in southern Brazil and Argentina. New-crop November soybeans also scored a new contract high, convincingly cracking the $14.00 barrier. Wheat was reluctantly along for the ride as tensions on the Ukraine border mount.
GENERAL COMMENTS:
March corn closed up 14 3/4 cents per bushel and December corn was up 7 1/4 cents. March soybeans closed up 28 1/4 cents and November soybeans were up 20 1/4 cents. March KC wheat closed up 6 cents, March Chicago wheat was up 5 1/2 cents and March Minneapolis wheat was up 8 1/4 cents.
The March U.S. Dollar Index is trading down 0.025 at 95.455. The Dow Jones Industrial Average is up 166.57 points at 35,256.31. April gold is up $15.90 at $1,823.70, March silver is up $0.63 at $23.10 and March copper is down $0.0040 at $4.4835. March crude oil is down $1.05 at $91.26, March heating oil is down $0.0243, March RBOB is up $0.0058 and March natural gas is down $0.336.
