Corn futures were lower on Monday. There was little fresh input although weakness in the crude oil market seemed to weigh on corn futures. The weakness in corn and gains in soybeans suggests there was also some corn/soybean spreading going on. May ended 8 1/4 cents lower at $4.09 1/4 and December was 5 cents lower at $4.02 3/4.



Soybean futures settled higher on Monday. Strong weekly export inspections and soybeans trying to "buy" some acreage back from corn this spring helped support the market. With little other news available, traders are looking ahead to the Prospective Plantings report. May ended 5 1/4 cents higher at $7.65 and November was 4 1/2 cents higher at $8.04.



Wheat futures were lower on the close Monday. Lower crude oil prices and a steep decline in corn futures set the negative tone. Weekend rain in the southern Plains contributed to the selling pressure. CBOT May was 5 3/4 cents lower at $4.70 3/4. KCBT May was down 4 3/4 cents at $4.92 1/4 while MGE May fell 3 3/4 cents to close at $5.10 3/4.



Cattle futures closed mostly lower on Monday. Weakness was attributed to profit-taking following the rally to new contract highs last week. Tight supplies of well finished cattle and expectations for seasonally strong beef demand into spring continue to lend fundamental support. April was 57 points higher to close at $102.02. June was down 17 points at $98.42. March feeder cattle closed 62 points higher at $105.77.



Lean hog futures closed mixed but mostly lower on Monday led by losses in deferred months. The lower prices were attributed to profit taking after recent price gains. Cash hog prices were generally steady to higher, after posting steady declines last week. Hog fundamentals are generally good so the drop in hog futures today may turn out to be a temporary correction. April ended unchanged at $67.95, but June was $1.28 lower at $77.48.