Overnight market developments - new all-time high for corn

Continued weekend rains and more in the forecast sees corn set a new fresh all-time high. Corn for July delivery rose as much as 22.25 cents, or 3.2 percent, to $6.73 in after-hours electronic trading on the Chicago Board of Trade and stood at $6.695 at 08:45 a.m. London time. Corn gained 8.6 percent last week, the biggest weekly gain in 10 weeks. Soaring crude oil and a weak dollar also lent support.

The same factors, rain, oil, the dolar supports the rest of the sector as well this am. Soybeans for July delivery added traded as 32 cents higher $14.8895 at 08;45 a.m. London time.

At 08;45 a.m. CBOT July wheat traded 19.25 cents firmer at $8.3025.

Tonight's USDA crop condition and planting progress will be eagerly scrutinised as will tomorrow's S&D numbers.