Corn futures were mixed on Monday as futures consolidated after the sharp gains Friday. While rain in the Corn Belt will continue to help previously dry soil moisture levels, it could begin to delay early planting progress. May closed 1/2 cent higher at $2.36 1/2. December ended 1/4 cent higher at $2.68 1/4.



Soybean futures closed lower again on Monday. Bearish fundamentals continue to weigh on the market. Friday's report of a huge increase in acreage in the U.S. based on the Prospective Plantings report is still causing the market to be nervous about large production and even higher stocks next year. May ended 6 1/2 cents lower at $5.65 and November closed 6 1/2 cents lower at $5.96 1/4.



Wheat futures were lower on the close Monday. Weekend rainfall in central Kansas and Oklahoma weighed on the market. Kansas City and Minneapolis futures slipped back to the fill the chart gaps left Friday while Chicago fell to the lowest level since last Wednesday. CBOT May fell 5 3/4 cents to $3.42. KCBT May was 3 1/2 cents lower at $4.15 and MGE May wheat fell 1 3/4 cents to close at $4.02 1/2.



Cattle futures ended higher on Monday. The market made a modest rebound from last week's dive to contract lows that had left the market extremely oversold. Futures discount to the cash market and higher boxed beef cutout values provided fundamental support. April cattle were up 72 points at $80.22. June climbed 40 points to close at $74.75. April feeder cattle were 50 points lower at $100.97.



Lean hog futures closed higher on Monday, supported by Friday's Hogs and Pigs report. While the report was not really bullish, it was slightly below trade expectations. Cash markets were mixed today. It will still take an upturn in cash bids to sustain any futures price rally. April closed 80 cents higher at $58.15 and June was up 60 cents at $65.88.