Wheat jumps to highest level since December 2014
Wheat prices rose on Monday, to hit the highest level in almost 6 years, amid concerns about dry weather conditions in a number of countries around the world.
On the other hand, several parts of Russia saw heavy rain during the last weekend, which supports the quality and abundance of crops there.
Wheat future contracts were lifted by strong demand from many countries in attempts to secure their needs in preparation to a potential lockdown due to the second wave of coronavirus.
The dollar index fell against a basket of currencies by 0.3% to 93.3 as of 22:00 GMT, after hitting a high of 93.7 and a low of 93.2.
Wheat December futures rose 0.3% to close at $6.27 per bushel, after hitting a day high and the highest level since December 2014 at $6.36 and the low of $6.20.
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Sterling rises as investors focus on Brexit talks
The British Pound rose against the US dollar on Monday, amid optimism about a Brexit deal between the United Kingdom and the European Union.
A British official said on Sunday that the door is still open to the Brexit talks if the European Union officials showed some flexibility.
While the British Prime Minister Boris Johnson said on Friday that the trade talks with the EU have ended and without any change in the European position, weeks ahead of the talks deadline.
Johnson ordered his cabinet members to prepare for a no-deal Brexit scenario, but sources told Bloomberg that Johnson might face pressure from the parliament to reconsider the controversial internal market law, which may rejuvenate the talks with Brussels.
GBP/USD rose 0.2% to 1.2947 as of 20:39 GMT, the pair hit an intraday high of 1.324 and a low of 1.2898.
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Silver closes higher, recoups some of last week's losses
Silver futures closed higher on Monday, as the US dollar fell against most of its counterparts, which allowed the precious metal to recoup some of last week's losses.
This came amid optimism in the US about the second fiscal stimulus package to ease the coronavirus impact.
The Trump administration proposed last week a $1.8 trillion fiscal stimulus package in order to pave the way for an agreement with the US congressional leaders to mitigate the coronavirus impact, ahead of the November election.
The dollar index fell against a basket of currencies by 0.3% to 93.3 as of 21:16 GMT, after hitting a high of 93.7 and a low of 93.2.
Silver December futures rose 1.2% or 29 cents, to close at $24.698 an ounce, after posting a 2.8% loss last week, with today's high at $25.120 and the low at $24.215.
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Gold closes higher after last week's loss
Gold prices rose on Monday, as the US dollar fell against most of its counterparts, as the market focused on the latest developments about the US second fiscal stimulus package to ease the coronavirus impact.
The Trump administration proposed a $1.8 trillion fiscal stimulus package in order to pave the way for an agreement with the US congressional leaders to mitigate the coronavirus impact, ahead of the November election.
The dollar index fell against a basket of currencies by 0.3% to 93.2 as of 20:08 GMT, after hitting a high of 93.7 and a low of 93.2.
Gold December futures rose 0.3% or $5.30, to close at $1,911.70 an ounce, with today's high at $1,923.4 and the low at $1,900.2, after posting a 1% loss last week.
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