Corn futures were higher on Monday. The market continues to find support from strong demand projections. The 2007-crop contracts led the advance as the market tries to bid up acreage next spring. Weather was a limiting factor today as open weather should allow for good harvest progress. December closed 1 1/4 cents higher at $3.43 1/2. March settled 1 1/2 cents higher at $3.58 1/2.

Soybean futures settled mixed on Monday. Spillover strength came from corn and wheat. However, buying interest was limited by good harvest weather this past weekend and reports of increased country movement that is pressuring basis levels. November ended 1/4 of a cent higher at $6.49 1/4 and January was unchanged at $6.62 3/4.



Wheat futures ended higher on Monday. News reports about dryness in China are beginning to attract renewed speculative buying interest. Even so, the market failed to find any real enthusiasm to the upside after opening a few cents higher. CBOT Dec was 5 1/2 cents higher at $4.98. KCBT Dec was 4 cents higher at $5.26 1/2. MGE Dec was 6 3/4 cents higher at $5.09 3/4.



Cattle futures closed lower on Monday. This was the seventh consecutive losing session with no significant bounces to break the fall. Technical selling continues to weigh heavily on the market. Ideas that cash cattle supplies will soon begin to increase are contributing to the selling pressure. December fell 35 points to close at $85.55. February was down 10 points at $88.85. November feeder cattle fell 107 points to $100.35.



Lean hog futures closed higher on Monday. Fund buying and support from steady cash markets this morning provided support. However, gains were limited by ideas that the cash market will turn lower this week. Deferred contracts were stronger than the nearby due to spread activity. December ended 35 cents higher at $64.53 and February was 53 cents higher at $67.78.