Corn futures ended lower on Monday. There was little new in the market. Traders are still nervous about fund rebalancing which is set to take place this week. The sell-off over the past week would seem to be anticipatory and could preempt further losses. March settled 4 3/4 cents lower at $3.63 1/2 while December fell 1/2 cent to close at $3.64 3/4.

Soybean futures were lower on Monday after trading in a relatively tight range. Weakness in other commodity markets and the favorable crop conditions in South America pressured prices. A major consulting group in Brazil raised their production estimate to 56 million metric tonnes, which would be record large. March ended 4 1/4 cents lower at $6.77 1/4 and November was 2 cents lower at $7.25.

Wheat futures closed lower on Monday. Export demand remains sluggish as weekly export inspections fell to 10.6 million bushels. Since the start of the crop year, exports have fallen 125 million bushels below last season's pace. Forecasts for another round of winter weather in the Plains late this week and into the weekend contributed to the selling pressure. CBOT Mar was 6 1/4 cents lower at $4.64. KCBT Mar was down 2 1/4 cents at $4.79 while MGE Mar fell 4 3/4 cents to close at $4.82 1/4.

Cattle futures ended higher on Monday. February and April futures set new contract highs. Higher cash prices late last week and further strength in boxed beef cutout values provided fundamental support. Weather forecasts call for another winter storm in the Plains late this week and into the weekend. February futures climbed 67 points to close at $93.25. The April contract was 32 points higher at $94.45. January feeder cattle gained 22 points to close at $98.87.

Lean hog futures closed lower on Monday. Some steady to firm cash bids this morning provided early support for futures. However, the market turned lower on profit-taking and weak technicals. The February contract ended down 10 cents at $60.30. June hogs ended 43 cents lower at $71.98.