Corn closed slightly higher on Monday. Cold and wet weather in the Corn Belt is further delaying spring fieldwork and is preventing some early planting progress. Weekly export inspections were bullish at 42.3 million bushels. However, gains were limited by weakness in outside financial markets and spillover pressure from the decline in crude oil. May ended 1 cent higher at $4.05 1/2 and December was 1 1/4 cents higher at $4.36 3/4.



Soybean futures ended lower on Monday, led by losses in the new-crop. The market was pressured by weakness in the stock market and crude oil along with profit-taking from the gains last week. Old-crop losses were limited strong export demand and tight soybean stocks. Losses in the November and later contracts were driven in large part by the adjustment in the new-crop corn/soy spreads. May fell 1 1/2 cents to $9.94 while November ended 11 1/4 cents lower at $9.12.



Wheat futures closed lower on Monday. Strength in the dollar and weakness in the stock market and crude oil pressured wheat prices. However, losses were limited by weather concerns. Weather forecasts call for freezing temperatures that could damage some of the wheat crop in the southern Plains. In the northern Plains, cold and wet weather could prevent some or delay spring wheat seedings. CBOT May ended 6 1/2 cents lower at $5.57, KCBT May was 4 1/2 cents lower at $6.03 and MGE May closed 2 1/4 cents lower at $6.69 1/4.



Cattle futures closed mixed, but were mostly higher on Monday. Strength in midday boxed beef prices and the firm cash trade late last Friday helped push front end contracts higher. Choice cutouts were up $1.17 at midday. Profit-taking and speculative selling limited gains and pushed some deferred contracts lower amid the weakness in the stock market and strength in the dollar index. April ended 48 cents higher at $86.53 and June was 20 cents higher at $84.38.



Lean hog futures were lower on Monday. Futures were pressured by weakness in the cash market and from declines in the stock market. With the holiday next weekend, demand for hogs is down as some plants will be closed Friday and most plants will be closed next Monday. April closed 55 cents lower at $59.73 and June was 90 cents lower at $72.75.