Summary: The commodity markets felt the strain as oil had its own black swan event on Monday. By the final session, lack of demand ran into rumors of renewed Chinese buying. For the week, July wheat dropped 3 cents and the nearby corn contract fell six cents. China’s rumored buying boosted the soy complex midweek but the trade ran into competitive pricing from Brazil and more demand issues as the July contract finished lower by 3 cents. July soybean meal weakened 50 cents per ton. July cotton gained $2.77 per hundredweight. Over in the dairy parlor, May Class III milk futures fell 53 cents.
