The rise in the price of crude oil pushed up the price of soybeans in the US

In America, there was no definite direction for trading in the crop market on the first day of the week. In Europe, on the other hand, sales pressure has clearly developed. In Chicago, wheat rose by 0.3 percent and soybeans by 0.9 percent, while the rate of corn fell by 0.1 percent and that of canola by 0.6 percent. In Europe, all four priority agricultural products, mill wheat, corn, rapeseed and fodder wheat, closed in the red. U.S. soybean futures rose on Monday as soybean oil futures rose more than 2 percent on technical-based trading grounds and crude oil gains, traders said. Chicago wheat firmed on bargain buying and a weaker dollar, which makes U.S. grains more competitive globally, while corn edged higher in choppy trade. U.S. crude oil futures rose $2 a barrel on geopolitical tensions, lending support to the soybean complex as soybean oil plays a role as a biofuel feedstock. Commodity funds hold a significant amount of net short positions, said StoneX analyst Craig ...