Corn futures ended higher on Monday. Spillover strength from wheat and fund buying supported prices today. Fund buying has been a large part of the rally, but it also appears that end user demand is strong. Basis levels have softened a little on the up move, but not too badly given the extent of the futures rally in the face of harvest. December ended 5 1/4 cents higher at $2.67 3/4. March settled 5 1/2 cents higher at $2.80 3/4.

Soybean futures closed lower on Monday. Initial strength came overnight and on the open from spillover buying from wheat. However, increasing harvest pressure and ideas of generally favorable conditions for harvest this week pressured prices. November fell 2 1/4 cents lower to $5.45 1/4 and January ended 2 cents lower at $5.60 1/4.

Wheat futures closed higher on Monday, extending last week's strong rally. Support was generated from higher prices in Europe and another round of rumors that Iraq has purchased U.S. wheat. Speculative buying interest from the commodity funds pushed Chicago December futures to the highest level for the spot month contract in 10 years. CBOT Dec was 3 cents higher at $4.46. KCBT Dec was up 2 cents at $4.98. MGE Dec gained 5 3/4 cents to close at $4.74 1/2.

Cattle futures closed higher on Monday. Surprising strength in the cash market late last week supported the market. Cash cattle climbed $2 to $3, about $1 to $2 better than earlier expectations. In addition to the higher cash market, cattle futures also found support from a positive performance in the lean hog futures. The October contract climbed 92 points to close at $91.57. December was 65 points higher at $90.50. October feeder cattle gained 40 points to close at $113.30.

Lean hog futures closed mixed, but mostly higher on Monday as cash markets took a turn to the upside. There was no noticeable reaction to Friday's Hogs and Pigs report, which suggested some possible weakness for second half 2007 contracts. All contracts posted gains expect December, which lost 40 cents and closed at $60.45. October ended 63 cents higher at $64.25.