Corn prices bounced from recent lows Monday. Last Friday’s WASDE report boosted ending U.S. corn stocks for both 2013/14 and 2014/15, which sent CBOT futures to four-year lows. However, after retesting those lows in early trading, the market bounced today. Traders probably think recent losses and concurrent equity market gains will spur renewed demand. September corn bounced 3.25 cents to $3.815/bushel in late Monday trading, while December edged up 3.5 cents to $3.8825.

The Export Inspections staged a comeback as well. The WASDE report boosted soybean carryout for both the current and next crop years and near-perfect weather is improving fall production prospects; thus, prices tumbled last Friday. Nevertheless, beans and meal rallied to start this week, with the strong result on the weekly Export Inspections report reminding traders that the domestic situation remains relatively tight. August soybean futures inched up 1.25 cents to $11.97/bushel as Monday’s CBOT session ended and November futures added 11.25 cents to $10.8625. August soyoil rose 0.11 cents to 36.88 cents/pound, while August soymeal bounced $0.8 to $388.6/ton.

Wheat futures also rebounded from four-year lows. Last Friday’s WASDE report indicated reduced U.S. wheat exports and increased domestic stocks during the coming months, thereby adding the recent downtrend. But prices moved mostly higher this morning; traders seemingly suspect the early-July breakdown will spur renewed buying interest, especially with momentum indicators in oversold territory. September CBOT wheat rebounded 11.75 cents to $5.3775/bushel at their Monday close, while September KC wheat rallied 10.0 cents to $6.4625/bushel and September MWE wheat climbed 11.25 cents to $6.3925/bushel.

Cattle futures resumed last week’s slide Monday. Cattle futures turned sharply lower last week as traders anticipated seasonal weakness. Sliding cash prices reinforced those ideas. Futures did bounce Friday, but apparently resumed their decline to start this week’s action. August live cattle fell 1.32 cents to 147.80 cents/pound soon after midmorning Monday, while December tumbled 0.75 cents to 152.25 cents. Meanwhile, August feeder cattle advanced 0.30 cents to 210.67 cents/pound, whereas October slid 0.52 to 210.92.

Hog futures surged on reduced supply prospects. Resumed cash and wholesale strength seemingly spurred fresh buying in CME hog futures Monday. Traders may also have been reacting to short-term forecasts for big production cuts during the balance of July. August hog futures jumped 1.67 cents to 130.35 cents/pound as Monday’s Chicago session ended and December climbed 0.80 cents to 105.15 cents.