Corn futures ended higher on Monday. Gains were attributed to a short-covering bounce from oversold conditions. Planting progress has been strong, but there is concern the crop will be hampered by slow emergence. July futures closed 3 1/2 cents higher at $2.07.



Soybean closed strongly higher on Monday. The market was technically oversold and due for bounce after falling to 2 1/2 month lows on Friday. Fundamental support came from NOPA crush at 134.2 million bushels in April, nearly 5 million bushels above trade expectations. July ended 10 3/4 cents higher at $6.23 1/2.



Wheat futures were higher Monday. Even though central and eastern Kansas received beneficial rains late last week, condition ratings are expected to decline slightly due to the continued dryness in western regions. CBOT July was 3 1/2 cents higher at $3.06 1/4. KCBT July gained 2 1/4 cents to close at $3.11 3/4. MGE July was up 1 1/4 cents at $3.22 1/4.



Live cattle futures were narrowly mixed Monday. Buying interest is limited by expectations for seasonally lower cash cattle prices ahead. However, losses were limited by ideas that boxed beef prices are stabilizing. June futures closed 32 points lower at $86.95.



Lean hog futures closed lower on Monday. Futures prices continued to work lower despite some solid gains in cash bids. The weakness in futures appears to be caused by technical factors and sell stops. June closed 13 cents lower at $75.70.