The CBOT saw strong, active trade to start the holiday-shortened trading week with the soy complex leading the way higher after frosts developed in Argentina. The cold weather was not what the country’s producers wanted to see and cast even more doubts on this year’s crop. The frosts will similarly threaten the late corn crop, a fact which sent CBOT corn futures higher for the day. Of the major grain markets, wheat was the only laggard and was punished by a wicked combination of fund selling and bear corn/wheat and soy/wheat spreading. One factor to watch this week is the fact that March options expire on Friday. That may drive price action heading into the expiration. Notably, there is substantial open interest in corn options...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, North America, South America