PRICE RECORDS: Corn and soybean prices hit all-time highs. There has been extensive damage to the crops caused by merciless summer heat. Both crops are deteriorating and there is little to no rain in sight.

MIDEAST-OIL: Oil prices climbed as tensions rose in the Middle East. Iran may try to block oil shipments through a crucial waterway for oil shipments.

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DOLLAR’S IMPACT: Most commodities rose, benefiting from a weaker dollar. Commodities are priced in dollars so a weaker dollar makes them more of a bargain for traders who use other currencies.