Corn futures settled 6 to 13 cents lower on Monday. Corn futures closed lower as the outside markets pressured prices. The dollar index turned higher, crude oil turned lower, and the euro zone debt crisis resurfaced all of which contributed to the decline in corn prices. New crop contracts carried the brunt of the weight as parts of the U.S. Midwest saw much needed rains over the weekend. Tomorrow’s WASDE report is expected to be favorable for corn with estimates for both old-crop and new-crop ending stocks below the May forecasts. The report is scheduled to be released at 7:30am CDT.

Soybean settled 3 to 7 cents lower on Monday. Prices tumbled giving back much of this morning's price rally. Soybean futures turned lower as the dollar index turned higher and crude oil prices declined. Investors concern pertaining to the EU debt crisis and upcoming Greek election also weighed on market prices. However, tight supplies and strong demand for soybeans limited market losses. Tuesday’s supply and demand report is expected to show declines in old-crop ending stocks while leaving new-crop estimates unchanged. The report is scheduled to be released at 7:30am CDT.

Wheat futures settled mixed but mostly lower on Monday. Wheat futures settled lower despite higher trading prices throughout most of theday session. The reversal of the U.S. dollar limited gains along with spillover pressure from the corn and soybean markets. Losses were limited as weekend rains over portions of the U.S. Midwest and Plains will slow the fast progressing winter wheat harvest. Tomorrow morning’s USDA WASDE reported is expected to lower winter wheat ending stocks by approximately 3.2 percent. The report is scheduled to be released at 7.30am CDT.

Cattle futures closed lower on Monday. Cattle futures traded choppy as outside markets went up and down. Initially, outside markets were favorable for prices as the dollar was down and a solution to the Spanish banking bailout was forthcoming. However, the markets reversed, leading to a higher dollar index and uncertainty concerning the bailout and upcoming Greek elections loomed over the market. The EU debt crisis continues to adversely affect commodity prices. Cattle futures were also pushed down by weakness in boxed beef prices.

Lean hog futures closed higher on Monday. Steady to higher prices in the cash market and a jump in the pork cutout prices lifted hog futures. The pork cutout value was reported up almost $1 on Friday lead by higher pork belly prices. Prices also trended upward on tight market supply concerns. The dollar rallied throughout trading, keeping gains within the market in check.