DES MOINES, Iowa (Agriculture.com)--The CME Group soybean market finished off its daily highs but still strong Monday.

The July corn futures settled 7 3/4 cents higher at $6.51. The July soybean contract closed 19 cents higher at $14.27 1/4. The July wheat futures settled 4 1/2 cents lower at $6.69 1/2. The July soymeal futures ended $3.20 per short ton higher at $392.90. The July soyoil futures closed $1.06 higher at $56.57. 
In the outside markets, the NYMEX crude oil is $2.32 per barrel higher, the dollar is higher and the Dow Jones Industrials are up 76 points.

Tim Hannagan, PFGBest.com senior grain analyst, says Friday's crop report has put the world export market on high alert. "The report told importing countries you better hedge long term bean needs by buying now or expect to pay up later when stocks really get tight. China pushed their way to the front of the line, this morning, buying 120,000 mt to start. Expect much more by them in the days ahead," Hannagan says.