Corn futures ended fractionally lower at midsession. Trade activity was light ahead of the USDA's crop progress report which is expected to show planting progress near 80% complete. Warmer weather and chances of rain in the Midwest will benefit the crop. July was 1/2 of a cent lower at $2.07 3/4.



Soybean futures closed mixed today. Sluggish weekly export inspections pressured old-crop contracts while new-crop was higher as some areas of the Midwest are getting a little dry. Forecasts call for some rain, but many areas have missed out on recent chances. July was 2 1/4 cents lower at $6.37 3/4.



Wheat futures ended lower on Monday. After trading a few cents higher through mid-morning, the market turned lower as weather forecasts showed favorable chances of rain in the Plains later this week. CBOT July was down 3 1/2 cents at $3.13 1/2. KCBT July fell 5 3/4 cents to close at $3.14 1/4. MGE July was 3 3/4 cents lower at $3.29 1/2.



Cattle futures were higher on Monday with the steep discount to the cash market lending support. Additional support was tied to news last Friday that Japan has agreed to exempt cattle less than 21 months from BSE testing. June futures closed 35 points higher at $85.40.



Lean hog futures closed sharply lower on Monday. Weakness in the cash markets spilled over into futures. June futures are still well above cash prices and some convergence will be needed before the end of the month.
June closed $1.03 lower at $75.13.