Chicago Board of Trade (CBOT) agricultural commodities closed lower on Monday, with corn futures dropping over one percent as the harvest of a bumper crop picked up speed in the Midwest and early yield reports were strong.

The most active corn contract for December delivery went down 3.75 cents, or 1.07 percent to close at 3.48 dollars per bushel. December wheat delivery dropped 5.25 cents, or 1.03 percent to close at 5.0625 dollars per bushel. November soybean delivery fell 7 cents, or 0.84 percent to close at 8.235 dollars per bushel.

Soybean futures also declined on harvest progress, along with disappointing U.S. soy crush data. Wheat slipped with the spillover effect of corn and soybean.

As for weather forecast for agricultural crop, flood warnings and watches are still in effect for much of inland North Carolina as the state deals with the remnants of Hurricane Florence, according to the National Weather Service.