Grains:
March corn closed down 1 cent and May corn was down 1 1/4 cents. January soybeans closed down 5 cents and March soybeans were down 5 1/2 cents. March KC wheat closed down 6 cents, March Chicago wheat was down 8 1/2 cents, March MIAX Minneapolis wheat was down 7 cents.
Corn, soybean, and wheat futures fell again to begin the new week as rainfall in South America through the first half of December has given way to refreshed bearish supply concerns. Meanwhile, from a technical standpoint, if prices are to continue selling off through the week and month, long standing chart support levels will be tested.
Livestock:
The livestock complex was trading mixed into Monday's noon hour as traders sat tight, waiting to see what fundamental support arises this week. But unless something powerful happens in the cattle complex, it's unlikely that trades are going to trade the market above its 100-day moving average any time soon.
Cattle finished the day i the green. Live Cattle was once again, backed up against the market's 100-day moving average, the live cattle complex was on pins and needles as it desired to trade higher, but traders weren't confident that the market possessed enough support to conquer its 100-day moving average. The feeder cattle complex was much the same attitude and followed the live cattle into the green at the end of the day
Although pork cutout values were higher this morning, the lean hog complex was trailing lower into Monday's noon hour as traders seem to be cautious to advance the market much more, given that late last week the complex rallied aggressively. Pork ended the day in the red.