Soybean futures surged on extreme weather conditions, breaking out of a month-long sideways range with the largest single-day gain in nearly a year. November Soybean futures soared 49'2 cents to close at 1197'0 cents, drawing significant trader interest with call options open interest rising to 191 thousand contracts. Corn futures also finished higher, energized by a 25% increase in year-over-year export commitments and spillover strength from the soybean rally. December Corn futures climbed 17'2 cents to settle at 458'6 cents. Wheat futures followed the broader grain complex upward, staging an oversold relief rally after dropping 120'0 cents since mid-May. September Wheat futures gained 16'0 cents to end at 615'6 cents, overcoming a challenging, abnormally hot and wet June growing season.
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