Corn futures closed higher on Monday. Solid export inspections and a strong rally in soybeans helped boost corn futures. Weekly export inspections were well above trade expectations at 44 million bushels. March futures settled 1 1/4 cents higher at $2.08 3/4. May futures were 1 1/2 cents higher at $2.17 3/4.



Soybean futures ended strongly higher on Monday. Initial strength came from less than expected rainfall in South America this past weekend. Gains were extended late in the session when prices pushed above technical resistance, rallying to two-month highs. January closed 16 1/4 cents higher at $6.08 1/2 and March was 18 cents higher at $6.20 1/2.



Wheat futures were higher on Monday. Spillover support from soybeans and seasonally light cash movement provided support. Commodity funds continue to support the CBOT while the KCBT benefited from concern about the HRW crop. CBOT Mar was up 3 1/2 cents at $3.23 1/4. KCBT Mar gained 3 1/2 cents to close at $3.71. MGE Mar was 3 1/4 cent higher at $3.77.



Cattle futures ended were mostly lower on Monday. Futures were quiet to start the week with light profit-taking noted after the February contract matched the contract high set Friday. Winter weather in the Plains and higher boxed beef cutout values helped limit losses. February slipped 27 points to close at $96.80. April closed 7 points lower at $94.62.



Lean hog futures were lower for most of Monday's session, but finally closed on a positive note. Cash hog prices continued to decline, but profit taking helped prices bounce. With the holiday and Hogs and Pigs report approaching, traders are beginning to close out positions. February ended 23 cents higher at $64.55. April ended 5 cents higher at $67.28.