Corn futures closed steady to slightly higher on Monday. Bullish momentum and the sale of 120,000 tonnes of corn to Mexico supported the market. But gains were limited by strength in the dollar and spillover weakness from soybeans. December ended unchanged at $5.38 1/4 and March was 1/4 of a cent higher at $5.53 1/4.

Soybean futures ended lower on Monday. The market was pressured by the rally in the dollar and weakness in the stock market. Weather in South America is mixed. Concerns remain about dry weather in southern Brazil and Argentina, although some recent rainfall in western Argentina will benefit crop conditions. Losses were also limited by rumors that China had purchased 3-5 cargoes of U.S. soybeans. January was 3 1/2 cents lower at $12.35 and March closed 3 1/2 cents lower at $12.43 1/2.

Wheat futures traded higher on Monday. Futures rallied as dry weather in the western Plains is expected to continue to pressure U.S. winter wheat condition ratings. Heavy rainfall in southeast Australia will slow wheat harvest and could cause some quality damage. Gains were limited by strength in the dollar. CBOT Dec ended 2 cents higher at $6.50 1/4, KCBT Dec was 5 3/4 cents higher at $7.26 1/2 and MGE Dec closed 2 1/2 cents higher at $7.36 1/2.

Cattle futures closed lower on Monday. Strength in the dollar and profit-taking from the rally to two year highs last Friday weighed on the market. A higher dollar is a negative factor for export demand. Profit-taking at the months end also contributed to the weakness. But losses were limited by firming boxed beef prices and expectations for higher cash trade this week. December was 20 cents lower at $102.03 and February ended 45 cents lower at $105.78.

Lean hog futures were lower on Monday. The market was pressured by ideas that wholesale pork prices could to turn lower in the near-term. Cash markets were steady to firm today, but there is concern that pork demand will be seasonally soft. Strength in the dollar was also bearish for the market as it could slow pork export demand. December ended 33 cents lower at $70.03 and February closed 93 cents lower at $76.23.