Corn futures settled higher on Monday. Prices were higher most of the day with most contracts posting new contract highs at midday before pulling back from them later in the day. The dollar index has weakened recently. The weaker dollar is supportive to export demand and positive for prices. December closed 2 1/4 cents higher at $3.71 1/2. March futures settled 2 1/4 cents higher at $3.88 1/4.

Soybean futures gapped higher on the open Monday, but gains were trimmed from there. Spillover support from surging world vegetable oil markets continues to provide support. However, the lack of follow-through buying and weekly export inspections falling below trade expectations limited gains on the day. January ended 3 3/4 cents higher at $6.88 and March was 5 1/4 cents higher at $7.02.



Wheat futures closed lower on Monday. Early technical strength boosted the most active March contracts to the highest level since November 8 while the new-crop futures soared to new contract highs. However, after the early strength, profit taking surfaced to pressure wheat futures to a lower close amid a continuation of the sluggish export pace. CBOT Mar was 5 cents lower at $5.14, KCBT Mar was 1 1/4 cents lower at $5.36 1/2, and MGE Mar was 6 1/2 cents lower at $5.17.



Cattle futures were lower on the close Monday. The market opened lower and remained under downward pressure throughout the session. Speculative long liquidation plagued the December contract with next week marking the beginning of the delivery period. Some fundamental pressure was linked to ideas that fed cattle supplies will be increasing during the next few weeks. December was down 102 points at $86.62. February was 72 points lower at $89.62. January feeder cattle fell 87 points to close at $97.62.



Lean hog futures ended lower on Monday. Profit-taking from recent gains and fund selling weighed on prices led by weakness in the February contract. Cash markets were firm today, but there is concern that bids will turn lower before the end of the week. December ended 53 cents lower at $62.45, February closed $1.18 lower at $65.75, and April fell 98 cents to $68.38.