Corn futures were steady today. Futures traded lower most of the day until a late session rally carried prices to a steady close. The news remains light and traders are gearing up for the USDA reports on Wednesday morning. March corn settled unchanged at $2.06 3/4.



Soybean futures closed higher on Monday. Fund buying and some positioning ahead of the USDA reports due out Wednesday supported futures. Scattered rainfall was noted in some areas of Brazil over the weekend, but dry areas remain in the south. March ended 6 1/4 higher at $5.48 1/2.



Wheat futures ended lower Monday. The market ran into renewed selling pressure after posting technical gains last week on short covering. Weekly export inspections were below expectations at 15.1 million bushels. CBOT Mar was 2 cents lower at $3.07 3/4. KCBT Mar was down 5 1/2 cents at $3.39 1/4 while MGE March wheat dipped only 3/4 of a cent to close at $3.45 3/4.



Cattle futures were sharply higher boosted by a jump in boxed beef cutout values and forecasts for cold weather and possible snow in the Plains late this week. February futures surged 162 points higher to close at $90.55. The April contract was up 122 points at $88.97.



Lean hog futures closed mixed on Monday. Trading was reported to be light and choppy, with most contracts down at midday before posting a modest rally. Prices were supported by ideas that much of the Corn Belt will be hit by another wintry blast later this week. February fell 10 cents to close at $75.05.