CBOT November soyabeans were down 13-1/2 cents at $8.66-1/4 per bushel and December wheat was down 3-3/4 cents at $4.73-3/4 a bushel. Corn led the way down after weekend storms brought rain to Minnesota, southern Iowa, western Missouri and eastern Kansas, along with parts of Illinois, Indiana and Ohio.
"The rain exceeded expectations in most areas, particularly in the western Midwest, improving conditions for corn and soyabean growth," space technology company Maxar said in a note to clients. The weekend showers, coupled with forecasts for more rain this week, put the focus back on prospects for hefty US supplies.
Ahead of the US Department of Agriculture's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to leave its crop ratings unchanged from last week, with 57% of the US corn crop and 54% of the soyabean crop in good to excellent condition. Traders also await clues on harvest prospects from the Pro Farmer Midwest Crop Tour, which began scouting fields on Monday. The annual tour is expected to release corn yield estimates for Ohio and South Dakota later on Monday.