Corn futures closed higher on Monday. The absence of selling interest at chart support of $1.95 on the March contract and some end-of-the-month short-covering helped the market move higher today. March ended 1 1/4 cents higher at $1.97.



Soybean futures mixed on the day with the nearby slightly higher and deferreds lower. The nearby was pulled higher by firm cash basis and some rumors of new business with China. Deferreds were lower as weekend rainfall in South America is bearish. March ended 3/4 of a cent higher at $5.14 3/4.



Wheat futures were mostly higher on the close. Support was attributed to month-end short covering. In addition, weekly export inspections were above last week and year-ago levels. CBOT Mar was 1 cent higher at $2.91. KCBT Mar gained 1 1/4 cents to close at $3.25 3/4 while MGE Mar was up 3 1/4 cents to close at $3.40 1/4.



Cattle futures rebounded from early weakness to close higher amid expectations for firm to higher cash prices this week. Moderate snowfall amounts in the southwestern feedlot region and ideas that the wholesale beef market is nearing a bottom provided support. February closed 45 points higher at $90.22.



Lean hog futures closed mostly higher on Monday, but the February contract ended lower. Continuing weakness in cash markets is weighing on nearby futures with the gap between the February contract and the settlement index pretty much closed. February fell 35 cent to close at $73.78.