Corn futures ended higher on Monday. A strong rally in soybeans helped turn the corn market around from early weakness. Gains were attributed to short-covering following last week's strong losses. USDA left U.S. supply/demand numbers unchanged, but the 4 million tonne jump in world production was a bearish factor early. March ended 2 1/4 cents higher at $3.70 3/4 and Dec '07 was 1 cent higher at $3.51 1/4.



Soybean futures closed higher on Monday. After the crop markets opened lower, soybeans triggered the turnaround. Short-covering drove the market higher after larger than expected weekly export inspections were reported. USDA's supply/demand report failed to generate much interest as U.S. ending stocks were unchanged from last month. January closed 10 3/4 cents higher at $6.66 3/4 and November was 12 1/4 cents higher at $7.20.



Wheat futures ended a few cents higher on Monday. The market opened lower, but initial weakness was limited following last week's sharp decline. Higher soybean prices helped lead a short-covering and bargain hunting rally. CBOT Mar was up 4 1/4 cents at $4.90. KCBT Mar was 4 1/2 cents higher at $5.11 and MGE Mar climbed 3 1/4 cents to close at $5.02 1/4.



Cattle futures closed lower on Monday. Higher cash prices reported Friday afternoon failed to lend support. Instead, the market was pressured by concerns that trade volume last week was not adequate to clean up showlists and some cattle have been carried over to this week. December was 65 points lower at $86.30 while February fell 62 points to $89.10. January feeder cattle were down 80 points at $99.62.



Lean hog futures were lower on Monday. Steady to lower cash markets weighed on futures. Technical selling amid poor chart formations also contributed to the weakness. December ended 55 cents lower at $61.78 and February was 78 cents lower at $63.50.