The commodities that have been the market leaders over the last couple months ended mostly lower on Monday. Crude oil dropped $1.73 and may be in for a bit of a sentiment change. It looks like demand could drop from China and India, which may put a screeching halt to the rally in crude oil futures if it becomes a reality.

India’s latest economic numbers show their economy might be growing slower than expected. Also, there is a serious inflation problem in China and measures may need to be taken to slow the economy and fight inflation. Much of the increased world demand for oil has come from the two economies.

Corn and soybean futures ended the day lower. The latest weather forecasts are now indicating drier weather ahead and farmers should be able to catch up on their plantings. However, the USDA released the latest Crop Progress figures Monday at 4:00 EST. The report showed corn is 51 percent planted thus far, compared to the five-year average of 77 percent for this time of year. I have to believe chances are looking better for below average yields this season, since the crops are so far behind schedule.

The soft commodities were moderately higher today. Cotton, sugar, cocoa and coffee all had small gains. Silver futures broke out of a small consolidation pattern, which was a nice pop for a quick profit.