Soybean futures reached a new 3-month high as market participants shifted focus toward May and July options following the March expiration. May Soybeans traded in a 22 cent range, reaching a high of 1165'0. Corn futures also moved higher amid expectations of declining production and ending stocks, with May Corn reaching 445'0 and July rising to 453'2. Wheat futures remained mixed as dry forecasts in the Texas Panhandle sparked buying interest, leading the May contract to a high of 583'4 before prices settled lower. The broader commodity sector experienced some overflow selling from equity markets, though grain markets remained resilient as option open interest shifted into new contract months.
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