Corn futures were sharply lower Monday. The funds were heavy sellers as they are unwinding the long position they established over the past couple of weeks. Dollar strength and weakness in the commodity indexes generally also weighed on the grains. May ended 5 1/4 cents lower at 2.14 1/2.



Soybean futures ended strongly lower today. Selling pressure picked up when technical support levels were broken. The heavy losses were attributed to speculative selling despite the lack of fundamental news. May ended 22 1/2 cents lower at $6.26 1/2.



Wheat futures were sharply lower Monday. Heavy speculative long liquidation pushed prices lower. Weakness in other commodities and strength in the dollar were bearish factors. CBOT May wheat was 14 cents lower at $3.42 1/2. KCBT May fell 12 1/2 cents to close at $3.47 3/4. MGE May was down 7 1/4 cents at $3.56 3/4.



Cattle futures bounced moderately higher Monday as bargain hunting provided support amid ideas that the selloff late last week was overdone. Friday's Cattle on Feed report was mildly supportive to the deferred contracts. April closed 45 points higher at $87.85.



Lean hog futures closed mostly higher on Monday. Prices started the day down, but strengthened as the day went on. Futures prices were influenced by developments in the cash market, which started steady but gained momentum during the day. April ended 65 cents higher at $71.05.