By: NATHAN STUEDLE
GRAINS:
May corn closed down 6 1/4 cents and July corn was down 6 cents. May soybeans closed up 1/2 cents and July soybeans were down 1/4 cents. May KC wheat closed down 6 1/2 cents, May Chicago wheat was up 2 cents, May Minneapolis wheat was up 3 3/4 cents.
The soybean complex led row-crop futures gains on Monday in a delayed bullish reaction to Friday's EPA mandates which came in above last June's proposal for required volumes. Soybean oil in particular jumped to the highest close of 2026 thus far on the May contract. Meanwhile, corn futures were lower, likely on positioning ahead of Tuesday's stocks report which is expected to show record or near record March 1 inventory in the U.S. Wheat traded mixed on Monday, with precipitation in the forecast over the next 10 days in the Southern Plains pressuring Kansas City prices, while Chicago and Minneapolis varieties were higher. In outside markets, crude oil futures have again moved sharply higher in recent sessions, trading to new high closing prices through the war thus far. On Monday, President Trump again threatened military action against Iranian energy sites if U.S. terms were not agreed to which includes the prompt reopening of the Strait of Hormuz.
LIVESTOCK:
It's been another prosperous day for the live cattle complex as the market is charging onward, full-speed ahead into Monday's close. Fueled by a combination of strong support from traders and from the stability recently seen in boxed beef prices -- along with mostly steady tones in last week's fed cash cattle market -- the live cattle complex has finally regained its bullish sentiment. New showlists appear to be somewhat lower in Texas and even smaller in Nebraska and Kansas. Last week Northern dressed sales were marked at mostly $372, which is steady with last week's weighted average, and it wasn't until late in the day on Friday that some live cattle sales were reported in the South at $233 to $235 which is steady to $1.00 lower than the previous week's weighted average.
Keeping in perfect alignment with the live cattle complex, the feeder cattle contracts also charged higher into Monday's closing bell. Aside from the multi-faceted support the live cattle complex is currently seeing, the feeder cattle contracts are seeing that demand plus more as buyers have been notably more aggressive in sale barns across the countryside in recent weeks. With turnout season to grass nearing, demand will likely only get stronger.
The lean hog complex was also rallying into Monday's noon hour but faded to a no better than mixed close as traders are pleased to see midday pork cutout values up again and the market is fighting to keep with the upward trend established last week. Helping drive the midday carcass price higher is mostly the $3.74 jump in the picnic, and then the $2.28 increase in the belly.