Crude Oil Moves Higher, Soybeans Supported

Crude oil has once again begun a push for higher prices, and the oilseeds are following them higher as well, including soybeans. While the correlation isn't something I would trade on, the connection between the price of crude oil and biofuel grains is real. When crude oil prices rise, the grains that are used to create ethanol tend to follow. This is almost inevitable, since the fate of the two are linked.