Agriculture futures mostly down again on Monday

Hog futures continued to fall, and the May 2023 contract made new contract lows. Spot prices were also weaker over the weekend and there remain worries about downstream demand.

Soybean oil also fell to start of the week, but saw open interest declining as it neared the bottom of its trading range and crushing volumes remain relatively weak.

Corn was lower but remains rangebound and is currently lacks a catalyst to break out of its range.

Issues with Silicon Valley Bank in the US received a large amount of media attention in China, but this didn’t affect markets much as the CSI 300 stock index moved higher and the Renminbi strengthened against the US Dollar.