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Market Summary: Rising Corn Pulls Wheat Higher

U.S. lean-hog futures ended lower amid weak demand. April lean hogs closed down 52 at 87.30, May hogs lost 70 to close at 95.00.

U.S. live cattle futures ended higher Monday, rebounding from recent losses amid expectations of new cash-market bids. April live-cattle futures ended up 72 at $126, while March feeder cattle climbed 42 to $154.

US wheat futures end higher, boosted by rising corn prices and short-covering ahead of the March contract's expiration Wednesday. May wheat in Chicago gained 8 1/4 to $6.51 while May wheat in KC climbed 12 to $6.96.

US corn futures rise on tight cash markets and on speculation Chinese companies are buying US corn. March corn ended up 17 1/2 at $6.71.

US soy futures end lower, pressured by traders continuing to take profits on recent gains amid worries about export demand. May soybeans ended down 3 1/4 to $13.34, May soy oil dropped 31cto 53.96, and May soy meal ended down $0.60 to $362.10.

Cotton futures stumbled Monday after India's government partially lifted a week-old ban on exports of the fiber, a measure that drew ire from cotton merchants, growers and the world's largest cotton consumer, China. But the market's reaction to the reversal was muted as participants tried to pick apart the frequent changes to the world's second-largest cotton producer's trade policies. May Cotton futures ended down 80 at 88.00 and the July contract dropped 81 to close at 88.93.

Gold futures slipped Monday as investors bet that disappointing Chinese trade data foreshadowed a drop in the country's demand for the precious metal. April gold fell $11.70 to $1,699.80 an ounce, and May silver closed at $33.41, down 79.9 cents

Oil futures finished lower Monday, as China's large trade deficit sparked concerns of a slowdown in the world's second-biggest oil consumer, while worries over Greece's sovereign-debt crisis lingered. April crude fell $1.06 to $106.34 a barrel, April gasoline fell a fraction to $3.32 a gallon, and April distillates fell 2.09 cents to $3.24 a gallon.

Defensive names rallied in an otherwise flat day for Wall Street on Monday, as traders paused to digest recent gains and looked ahead to a Federal Reserve monetary policy statement. The Dow gained 37 to close at 12,959, the Nasdaq closed at 2,983, down 4 and the S&P 500 gained a fraction to 1,371. is dedicated to serving the agricultural industry in the Carolinas and Virginia with the latest ag news, exclusive regional weather station readings, and key crop market information. The website is a companion of the Southern Farm Network, provider of daily agricultural radio programming to the Carolinas since 1974. presents radio programs, interviews and news relevant to crop and livestock production and research throughout the mid-Atlantic agricultural community.