Corn futures were higher on Monday thanks to a late session rally. The market was under pressure early in the day from another break in China's stock market. U.S. stocks also opened lower, but managed to recover. The stock market bounce seemed to help the corn market. May closed 5 3/4 cents higher at $4.26 3/4 while new-crop December was up 2 cents at $4.08 3/4.



Soybean futures were lower on Monday, but were able to bounce from the lows for the day. World stock markets are still jittery, keeping the market on edge about commodity markets. Strength in corn and wheat helped limit losses in the soybean pit. May ended 3 cents lower at $7.50 1/2 and November was 3 1/2 cents lower at $7.87 3/4.



Wheat futures were higher on the close Monday. Short-covering helped pull prices higher on Monday after being under pressure most of the day from speculative long liquidation across the commodity complex. The bounce in corn and some resiliency in the U.S. stock market helped the market bounce. CBOT May was 7 cents higher at $4.79. KCBT May was 4 cents higher at $5.08 while MGE May was 3 cents higher to close at $5.15 1/2.



Cattle futures ended lower on Monday. Profit-taking weighed on the market today on ideas that gains were overdone on Friday. Weaker hog markets sparked concerns that beef will run into more competition at the retail meat counter. April closed 30 points lower at $97.35 and June was down 8 points at $95.43. March feeder cattle fell 12 points to close at $103.77.



Lean hog prices closed lower on Monday due to both weaker cash markets and fund liquidation. Cash hog prices were significantly lower today as hog supplies were suddenly large due to last week's winter storm. April fell $1.35 to $65.00 and June was $1.43 lower at $75.50.