Soybean futures reached new highs as weather caused uncertainty.

Virginia McGathey discusses the recent surge across grain markets, highlighting new highs in Soybean futures driven by crop yield uncertainty from extreme weather and continued buying from China. Corn futures also saw gains, supported by Middle East tensions, rising crude prices, and potential export increases due to a struggling European crop, which drove strong volume in the December contract. Finally, Wheat futures reached new contract highs following a bullish crop tour report indicating lower yields than last year, further supported by shipping concerns in the Black Sea region.