U.S. will release 50 million barrels of oil in a coordinated effort along with releases from strategic reserves by China, India, South Korea, Japan and Great Britain.
Wheat futures are sharply higher with corn and soybeans higher on spillover support. Fed cattle and lean hog futures are off to a higher start to the week, as well…
Winter wheat futures surged to new contract highs overnight, while spring wheat sharply rebounded from last week’s losses amid tight global supplies of high-quality wheat.
Grain and soy complex futures traded both sides of unchanged overnight but have softened to a weaker tone and session lows this morning amid a rise in Covid concerns.
Drier weather in the southwestern United States, western Great Plains, and Southeast led to drought conditions developing or worsening for parts of these regions.
