EUR / USD index fell to 1.1147. WTI crude US light oil dropped to 44.44 USD / barrel.

Oil got cheaper on Monday, as its price influenced the continuing expansion in shale drilling in the US, Reuters reports. There are also signs of weakening demand, which aggravates the market's attitudes and returns prices to levels comparable to those from last year when OPEC first announced a deal to reduce output. According to traders, the main factor driving prices downward is the steady increase in US mining. "US manufacturers have added 431 oil platforms since the end of May 2016," says Goldman Sachs investment bank.

Yesterday, for the first time since long, the price of wheat in Chicago rose and that of corn fell, so divergent movements were not accidental. The wheat price has fallen due to concerns about the development of this culture in the EU. Dry and hot weather in Western Europe will cause stress in wheat crops. At the same time, it will also affect the spring cultures - corn and sunflower. These weather conditions will be maintained for the next 7 to 10 days. That was the focus of yesterday's trade in Chicago and Paris. There is also a shortage of moisture in the wheat belt of the United States. Wheat harvests in Kansas and Oklahoma are already showing low crop yields, which was expected by analysts.

The wheat price in Paris reached its highest level in the last 18 months.

Yesterday corn prices in Chicago fell despite of the good data on its exports - for the past week, 1.22 million tonnes at 1.07 million tonnes a week earlier. Investors appreciated the good conditions in the US corn belt, and it peaked in Chicago yesterday. The weakness of oil also did not induce corn. The perspective for it to remain low is an important factor in the biofuel market. Indeed, the price of oil is spinning in a circle that seems to allow nothing more than prices in recent months. Each attempt for growth is associated with strong growth in production.Shale US producers have adjusted to current prices. The OPEC agreement results in market share losses to its executors. This agreement would hardly be implemented over an extended period of time. Every manufacturer wants to take the most of the market, especially if other is in his  place. Thus biofuel prices will be long suppressed by oil without the prospect of something essential and good on the market.

A key issue for investorsit is now the assessment of whether the conditions for the development of crops are better than those in 2015. Drought conditions do not spread only in the Midwest of the United States but also in the EU and the Black Sea region. If the conditions can be compared with those of 2015, a similar price model may be thought of. In 2015 wheat futures were also rising, but this was caused by excessive US moisture. Now the wheat problems are present  in several key production areas, but the stocks are much higher than two years ago. Further price growth - YES, but moderate and fast variable.

Now the events are on a scale and any even a slight change of the weather can have a significant impact on the market prospects.

Soybean prices - yesterday soybeans prices in Chicago fell by 1.25 - 1.50 cents / bushel. In the United States, 96% of the areas planned for soybeans are planted. In good and excellent condition are 67% of soybeans areas at 66% a week earlier and 73% a year earlier. Exports of soybeans last week were 275,461 tonnes (-46.17% compared to last week and -12.66% over the previous year). China is likely to commit to buy record high quantity of  soybeans- over 13.4 million tonnes,  from the US.

Corn prices - yesterday corn futures in Chicago fell by 5 - 8.75 cents / bushel. Corn export controls were 1.219 million tonnes (-1.33% and -13.61%). In good and excellent condition are 67% of the areas (67% and 75%).

Wheat prices - Chicago wheat prices rose by 1 - 1.75 cents / bushel yesterday. Exports of wheat from the United States were 801,725 tonnes (-7.75% and + 29.37%). In a good and excellent condition of the spring wheat in the US are 41% of the crops (45% and 76%) - a continuing decline despite the market expectations for growth.