Soybeans charged above $10/bu. in the lead January contract after a number of export sales last week, better-than-expected export shipments and higher Asian markets.

In addition, a broad range of commodities were higher, including crude oil, gold and copper. The dollar was a little lower after last week’s 13.5-year high but remained at a lofty level as investors expect the Federal Reserve Bank to raise interest rates in December.

The Dow Jones industrials were up about 75 points when the crops closed, and crude oil was up $1.77 a barrel.

In weather news, light rain is moving across the southern Plains Monday and Tuesday, and the drought-hit Southeast may get rain on Wednesday.

The corn market’s higher close put it near a two-week high, and December is above a number of key moving averages.

In the cash markets, some corn is moving into market channels as farmers sell what’s left after filling their bins. River markets are taking it and shipping it downstream. The weekly export inspections of 34.5 million bu. were up 28% from a week ago.

Ethanol futures rose with the other energy markets, up nearly 2.5% and the highest since mid-June. December ethanol was up 0.039 to $1.570/gal.

The Chicago Board of Trade (CBOT) estimated Monday’s corn futures volume at 309,173, compared with Friday’s actual of 349,882. Open interest on Friday decreased by 10,797 in the higher market. That included a decrease of 27,337 in December and an increase of 12,619 in March.

December corn closed 4.25 cents higher at $3.4975/bu., and March was up 4.25 cents to $3.5775/bu.

Soybeans’ strong gains put lead January the highest for a lead month since August, helped by the export sales, Asia and weekly export inspections.

Soybeans at China’s Dalian market were up 2% on Monday to about $14.96/bu. after conversions from metric tons and yuans. That market is trying to recover from recent steep losses. The exchange’s January soybeans lost 5.7% in value last week and closed at about $14.65/bu. on Friday.

CBOT estimated soybean futures volume for Monday at 172,233, compared with Friday’s actual volume of 126,487. Open interest on Friday decreased by 1,290 in the higher market and included decreases of 810 in January and 535 in March.

January settled soybeans closed 26.5 cents higher at $10.2025/bu., and March was up 26.25 cents to $10.285/bu.