It was a down day for grains as traders see a decent amount of rain in the upcoming forecasts, Ami L. Heesch of CHS Hedging said. “First blush crop reports, from the annual corn/soybean tour this week, suggest the corn and bean crops are lagging in development,” she said.

Profit-taking was to blame for much of corn’s turn in the red today, Ami L. Heesch of CHS Hedging said. “Prices drew additional pressure from lack of fresh supportive news, slowing demand as evidenced in this morning’s inspection figure,” she said.

In weighted average negotiated prices for barrows and gilts, USDA reported;

Wheat’s market traded “in sympathy with the row crops,” Ami L. Heesch of CHS Hedging said. Harvest is expected to begin this week, after rains delayed movement last week. Export inspections were reported in line with expectations.

“The hog market has been about as bi-polar as it possibly can get,” Oliver Sloup of Blue Line Futures said, adding that swings can be overblown. In the near-term, he said he thinks today’s movement in the lean hog market is more indicative of a relief rally.

A drop in currency has slowed down Argentina farmers’ selling of soybeans, Steve Freed of ADM Investor Services said. Meanwhile, traders are starting to accept the USDA acreage and yield numbers, ahead of the crop tour results this week.

Boxed beef cutout values this afternoon were firm to higher on moderate demand and light offerings, USDA said.

Due to several Vesicular Stomatitis (VS) outbreaks in Texas, Colorado, New Mexico, Wyoming, Oklahoma, and Nebraska all susceptible livestock (beef cattle, dairy cattle, sheep, goats, hogs, llamas, and alpacas) including horses coming to the Nebraska State Fair from Texas, Colorado, New Mexico, Wyoming, Oklahoma, and Nebraska need a 48 hour Certificate of Veterinary Inspection (CVI) to enter the fairgrounds. That CVI must also contain the federal VS statement: "The animals represented on the CVI have not originated from premises or area under quarantine for Vesicular Stomatitis or a premises on which Vesicular Stomatitis has been diagnosed in the last (30) days. I have examined the animals and found no signs of Vesicular Stomatitis." Animals will be observed once on the grounds. All horses will be examined daily by a veterinarian.

According to Allendale, China’s top soybean buyer said they “can do without soybean supplies from the U.S. in the fourth quarter,” relying solely on South American imports.

“Not much news,” CHS Hedging’s Steve Hyde said. “Hopefully weather will cooperate with producers this week to allow for better spring wheat harvest. World stocks continue to grow, demand is slack, but U. S. should be in better shape to compete for business given price levels at this time.”

The slaughter number coming in higher last week may assuage fears that there will be an oversupply of cattle, The Hightower Report said. A surge in beef prices has also boosted packer margins, which may have helped the slaughter on Saturday.

Despite weak technical action and lower pork prices, downside in the market may be limited if exports pick up steam, The Hightower Report said.

Coming into this week, “there is no technical sign of a low” in cattle, The Hightower report said. “If there is a sense that the industry can deal with the plant fire issue without building a massive supply of market-ready cattle, cattle futures look undervalued.”

“Timely weekend rains over dry areas are pressuring prices overnight and early this morning,” Steve Hyde of CHS Hedging said. The rains are expected to improve crop conditions across the Midwest, as farmers turn their attention to a possibly late harvest.

Large supply numbers and favorable weather helped drag down overnight markets entering Monday, Allendale said. “Traders will be paying attention to various crop tours and survey's beginning this week searching for clearer answers on what we can expect in the fields this yea,” Allendale said.

The University of Wisconsin-Arlington Agricultural Research Station is hosting an organic-agriculture field day. The event will showcase research regarding integrating cover crops into corn and soybean phases of rotations. That can help farmers build soil organic matter as well as reduce the amount of tillage and cultivation, according to UW researchers.

Travelling through my territory these past few weeks, I am reminded of days gone by. This is not necessarily a good thing, as the days gone by that have been on my mind is the 1980s.