Grains:
December corn closed up 2 1/2 cents and March corn was up 2 1/2 cents. January soybeans closed up 13 cents and March soybeans were up 13 1/2 cents. December KC wheat closed up 7 3/4 cents, December Chicago wheat was up 8 cents, December MIAX Minneapolis wheat was up 6 1/4 cents.
Row-crop markets moved higher in a quiet, low volume session Monday as traders look to square positions ahead of the first USDA Crop Production and WASDE report in two months, due out on Friday at 11 a.m. CST. In outside markets on Monday, the headline news was a successful vote to pass the funding bill on Sunday evening, which should put the U.S. government on a path to reopening this week.
Livestock:
Cattle markets have rallied higher through the morning with active gains seen in both live cattle and feeder cattle futures Monday following the weekend break. The increased volatility over the past couple of weeks seems to have added fuel to the fire, but extreme volatility of this nature seems to create more market shifts than solve any long-term market issues. Live cattle futures continue to surge higher following additional buyer support quickly flooding the market. Feeder cattle futures are leading the market higher Monday, with indications that additional support may continue to add buyer support as the week continues. Feeder cattle futures are locked $9.25 per cwt higher, and a close at these levels could lead to increased volatility Tuesday.
Lean hog futures are generally higher Monday morning, with nearby contracts posting triple-digit support based partially on support in pork values. But the wide swing higher in cattle trade is also spilling over to the hog complex during morning trade activity. Limited fundamental shifts are seen in the lean hog market at this point, with prices still searching for a sense of market support following firm pressure over the last few weeks.