Corn futures were down on Monday. The market gapped lower mainly on favorable weather forecasts for the next week to ten days. Drier weather accompanied by a warming trend beginning mid week and extending into next week is forecast. July ended 4 1/4 cents lower at $2.09.



Soybean futures traded lower most of the day, but closed mixed. Initial pressure came from outlooks for improved planting weather. A firm dollar and heavy deliveries against the May contract were also bearish factors. But speculative buying was able to the market recover near the close. July ended 1 cent higher at $6.27 1/4.



Wheat futures were lower on Monday amid ideas that most of the wheat crop escaped damage from the cool weekend weather. Speculative longs were also liquidating positions due in part to spillover pressure from the corn pit. CBOT July was down 2 3/4 cents to close at $3.23 1/4. KCBT July was 5 3/4 cents lower at $3.26. MGE July wheat was down 4 1/2 cents at $3.40 1/2.



Cattle futures were lower on Monday pressured by ideas that showlists will be larger this week after some cattle had been carried over from last week. With the steady to lower cash trade, ideas continue that the seasonal top is in place. June futures closed 67 points lower at $84.95.



Lean hog futures closed mostly higher on Monday. Strength in the cash market kept the market in the uptrend started last week. It appears that supplies of market ready hogs are tightening seasonally. All contracts were higher except June, which ended slightly lower on futures premium to cash. June was 3 cents lower at $77.43.