eCBOT Close, Early Call

eCBOT futures closed sharply lower Monday, after earlier posting some reasonable gains on follow-through from Friday's strong close.

Corn closed around 12-14c lower, soybeans 34c easier and wheat down around 6c.

A general broad-based sell-off in commodities and stocks following the collapse fo Lehman Bros over the weekend was largely behind the declines, traders said.

"We've got the exact opposite of what we had 6-8 months ago," said one trader.

"Then almost anything that was bullish was siezed upon to drive the markets higher. Now bullish news is ignored, or its affect lasts only a few hours before the bears take over."

October crude is $5.78 lower at $95.40/barrel as global recession fears grow.

Early calls for this afternoon's session: Corn is expected to open 12 to 15 lower; soybeans 30 to 35 lower; wheat 6 to 9 lower.