Overproduction of last year's crops in the U.S. still affect the price in futures trading. Meanwhile farmers is predicted to still harvest a big yield of soybean and corn in 2016.
Asian shares balked at the starting gate on Monday, skittish in the face of a deepening Ukraine crisis, while the euro touched a fresh one-year low ahead of this week's European Central Bank meeting.
The euro fell to its lowest in nearly a year against a firmer dollar on Monday after the head of the European Central Bank said he was prepared to take action if inflation dropped further, raising expectations of quantitative easing.
Bart Chilton, member of the Commodity Futures Trading Commission, said the Volcker rule on proprietary trades will most likely take in effect before 2015, as said in a Reuters report.
New inclusions to avoid the London Whale scandal is sought to be included in the new Volcker Rules, which may result in failure to meet the mandated year end deadline.
To address wrongdoing in the 'London Whale' scandal, JP Morgan enters into a settlement agreement with the CFTC.
The CFTC warned that all buyers must be allowed to participate and operations need to be transparent as required by the Dodd-Frank Act.
The CFTC would be conducting a formal meeting to discuss its new rule on swaps.
Net long position of the US dollar fell, together with other currencies according to the Commodity Futures Trading Commission.