Grain Markets Higher in Early Trade [Video]

The grain markets opened at 8:30 a.m. and are higher in the early trade.

The U.S. dollar is a fraction lower today but is still trading right at two-year highs above 108.

The Brazilian real is trading very close to all-time low at 6.18 to the U.S. dollar. This is helping keep Brazilian soybean prices high as we approach the major harvest season.

The grain markets are focused on weather in South America and global export demand. The overall pattern in Brazil is still favorable, with many trade analysts projecting a record soybean crop. Argentina has been trending drier, but the forecast is for two chances of rain late this week and over the weekend.

At this hour, March corn futures are up 2¢, March soybean futures are up 4¢, and wheat futures are 2¢–4¢ higher.

In the livestock markets today, February lean hogs are down 50¢, February cattle are …