Grains:
March corn closed down 1 1/2 cents per bushel at $4.28 3/4 and May Corn closed down 1 3/4 cents per bushel at $4.37 and March soybeans closed down 4 1/2 cents at $11.10 3/4 and May soybeans were down 3 3/4 cents at $11.25. March KC wheat closed down 2 1/2 cents at $5.28 3/4, March Chicago wheat was down 1 cent at $5.28 3/4 and MIAX March Minneapolis wheat was up 0.01 cents at $5.7050.
Grain and soybean markets fell Monday, led by soybeans and soymeal as the Argentine rain outlook has brightened and soy premiums in South America fell, making the U.S. less competitive. Soybean oil bucked the bearish trend and rallied along with crude oil.
Livestock:
The livestock complex headed into Monday's noon hour with a mixed tone, as traders desired to push the contracts higher, but needed to see more fundamental support before they would confidently do so. New showlists are higher in Texas, Kansas and mostly steady in Nebraska/Colorado.
The live cattle complex was taking a mixed approach to Monday's noon hour as the market continued to desire to trade higher -- but traders need to see continued fundamental support and reassurance before they'll likely push the market up to or beyond resistance thresholds.
Upon establishing what seems to be a new top last week in the lean hog complex, the market continued to trade lower today as traders question if there's enough support to challenge that new threshold.