CHICAGO (AP) -- Grain and soybean futures fell sharply Monday on the Chicago Board of Trade amid expectations dry weather later this week will speed Midwest plantings and boost chances for another year of bumper crops. The U.S. Agriculture Department was expected to report that farmers in the past week are close to completion of corn plantings and are about half-done planting soybeans. Midwest farmers have managed to meet or exceed the five-year average for planting this spring despite sometimes heavy rainfall. With the National Weather Service and several private forecasters predicting dry, warm weather in major growing areas beginning about midweek and lasting through the weekend, analysts expect farmers will speed their pace of planting even further. Investors are worried about bumper crops adding to already ample inventories, despite a somewhat brighter in the export picture. Corn shipments, for instance, have beat market expectations for several weeks, but market participants continue to fret about new-crop supplies that will compete for business with other countries that have recently harvested bumper production. Wheat futures also were pressured by expectations for solid spring wheat plantings and amid early harvesting of the winter wheat crop, which accounts for much of the nation's total. Wheat for July delivery fell 5 cents to $2.47 1/4 a bushel; July corn fell 6 3/4 cents to $2.11 3/4 a bushel; July oats fell 2 1/2 cents to $1.17 3/4 a bushel; July soybeans fell 6 3/4 cents to $4.55 a bushel. Pork futures fell sharply on the Chicago Mercantile Exchange after the government reported frozen pork inventories jumped to record levels last month. The USDA's monthly cold storage report indicated the meatpackers have ample supplies of ham and pork bellies, used for making bacon, and will need to slaughter fewer hogs during the peak summer demand period. Frozen pork inventories have jumped to 593.510 million pounds, surpassing the previous record of 583 million pounds set in April 1952. June lean hogs fell 2 cents to 54.90 cents a pound; July pork bellies fell 1.4 cents to 52.20 cents a pound; June live cattle fell .17 cent to 63.35 cents a pound; August feeder cattle rose .30 cent to 75.32 cents a pound. -=-=- 