The grain and oilseed markets were lower to start the week as the global markets largely remain the focus. Rains fell in the Corn Belt including central and norther Iowa, northern Illinois, and southern Minnesota and Wisconsin but missed the Eastern Corn Belt.  Dow Index futures were down .91% while Chinese stocks closed Monday lower with the Shanghai Compositedown .78% and the  Shenzhen Composite down 3.1%. The trade estimates the corn crop condition rating will slip by 1 point. September corn futures were 0.25 cents lower to $3.63/bushel early Monday morning, while December was 0.5 cents lower to $3.745.

A lower Chinese stock market and mostly favorable weather appear to have the soy complex lower early Monday morning, ahead of the export inspections report at 10:00 a.m. CDT. The U.S. Dollar index is lower by .13% to 95.98 and the Chinese CNY was stronger against the USD by .16% to 6.376. Talk of Fed interest rate hike has markets on edge.  August month-end fund consolidation may add pressure Monday. The trade expects the soybean good-to-excellent rating to drop by 1%. September futures were 4.24 cents lower to $8.89/bushel early Monday morning, while September soyoil lost .54 cents to 27.25 cents/pound and September meal gained $0.1 to $321.50/ton.

The wheat complex was lower overnight as the macro markets are weighing commodities to start the week. STATS Canada will issue their all-wheat stocks report Thursday with trade estimates falling to 6.5 million tonnes, down 37% from a year ago. The trade awaits the release of export inspections data released mid-morning Monday as well the September WASDE due out a week from this Friday. September CBOT wheat futures lost 3 cents to $4.74/bushel early Monday, while Sep KC wheat fell 1.25 cents to $4.565/bushel, and September MWE dropped 0.5 cents to $4.90.

Live cattle futures bounced higher Friday after October cattle tested February lows Thursday. Boxed beef cutouts were a bit lower, with choice down .03 to 244.21 and select down .48 to 233.12. Prices are expected to work higher through the fall and winter but corrections along the way are not out of the question. December cattle bounced to highs for the week confirming an oversold market. October cattle gained 1.37 cents to 146.52 cents/pound Friday, while December cattle were 0.13 cents higher to 146.05.

CME hogs futures settled lower Friday amid oversupply and lower wholesale pork values.  An industry report recently stated that Chinese pork supplies will experience a shortfall of 600,000 tonnes before the end of the year, suggesting pork exports to China are due to increase. Domestically, the sharp fall in demand for pork appears to be near but confirmation may not come until next week sometime. Cash hog values were lower by 1.09 cents to 72.58. October hog futures lost .40 cents to 66.42 cents/pound Friday, while May slid 0.32 cents to 74.82.

Cotton futures began the week higher Monday despite Chinese stocks closing lower, perhaps on month-end positioning. The tighter than expected balance sheet for cotton and the drop in the condition rating have given cotton bulls something to talk about as of late but world market problems are now the driver. While the global scene for cotton is largely still plagued by oversupply, the recent bullish data appears to be giving way to world economic and currency struggles, particularly related to Chinese demand fears. December cotton futures lost .13 cents to 63.13 cents/pound Friday, while Mar rose 0.17 cents to 62.85.