Corn futures are 2 1/2 to 3 cents lower Monday morning. Weekend rainfall in South America is weighing on the market. The dollar is stronger Monday, reducing the speculative enthusiasm that led the market higher last week. The May corn futures contract is down 3 cents at $2.21 3/4.



Soybean futures range from 4 to 7 1/2 cents lower at mid morning Monday pressured by heavy weekend rainfall in the dry areas of southern Brazil received some heavy rainfall Sunday. Even though it is too late to reverse crop losses, the rains are washing out some of the speculative longs. May soybeans are 7 1/2 cents lower at $6.55.



Wheat futures are mostly 3 to 5 cents lower falling sympathy with corn and soybeans on speculative profit taking. Forecasts for heavy, wet snow in the southern Plains tonight and Tuesday are contributing to the selling pressure. Chicago May wheat is trading 4 cents lower at $3.54. KCBT May is down 5 cents at $3.62. MGE May wheat is 6 1/2 cents lower at $3.66 1/2.



Cattle futures have turned lower Monday following news that the San Francisco Appeals Court has set a timetable for the National Meat Association's request for a hearing on the Canadian border issue. The court will probably make a decision on the appeal by the end of March. April futures are 20 points lower at $88.90. The June futures contract is down 60 points at $85.25.



Lean hog futures are 7 to 70 points lower Monday morning pressured by lower cash market prices. Anxiety over the judicial appeal for reopening the Canadian border to live cattle imports is weighing on the hog futures. April lean hogs are down 12 points at $72.25 while June hogs are 70 points lower at $80.05.