Soybeans lead grains sharply lower
Soybeans are leading a board full of sharply lower prices in early CME Group grain trading Monday morning.
In early trading, March soybeans are 22 1/4 cents lower at $11.96 3/4 per bushel, while March corn is 9 cents lower at $6.32 3/4 and March wheat is 8 3/4 lwoer at $6.38 1/2, according to Barchart.com.
The weakness to open Monday's trade stems mainly from apprehension about the European debt crisis, as well as news out of South America that rains fell over the weekend in parts of southern Brazil and Argentina. Add to those factors lower equities and crude oil markets and it's a bearish combination all-around for the grains.
"It appears traders have shifted to more of a risk off stance as most global markets are under pressure," analysts at Benson Quinn Commodities wrote in a morning market note, according to a report from Dow Jones Newswires.