Corn futures settled slightly higher Tuesday. The market held in a trading range today as traders are positioning for the Prospective Plantings report. Weather jitters are helping to limit losses. Recent rainfall has helped recharge soil moisture levels, but could lead to planting delays if a wet pattern continues. May was 1 1/2 cents higher at $3.92 1/2 and December was up 1/4 of a cent at $4.01 1/2.



Soybean futures ended slightly lower on Tuesday. The market was choppy today with little direction ahead of the USDA reports due out later in the week. Big stocks of soybeans and expanding harvest progress in South America remain bearish fundamental factors. May closed 1 1/2 cents lower at $7.57 and November was 1 1/2 cents lower at $7.99 3/4.



Wheat futures closed lower on Tuesday. The market continued lower today, pressured by favorable crop condition ratings. The weak close has reinforced the negative technical chart pattern. Prices are expected to drift lower unless there is a bullish surprise in the USDA reports on Friday. CBOT May was down 4 cents to close at $4.54. KCBT May was 6 3/4 cents lower at $4.70 1/4 while MGE May fell 3 1/4 cents to close at $4.95 3/4.



Cattle futures ended sharply lower on Tuesday. Falling beef prices and ideas that packers will reduce slaughter schedules weighed on the market. Technical selling contributed to the weakness as futures fell below chart support at the recent lows. Choice cutout values have now dropped more than $10 from the mid March high. April fell 122 points to close at $96.82 and June was 177 points lower at $93.35. April feeder cattle fell 107 points to close at $105.22.



Lean hog futures closed lower on Tuesday as traders react to the continuing high levels of slaughter. Weakness in cattle prices was also a factor in hog futures declines, along with the futures premium over the settlement index. April closed 43 cents lower at $63.38 and June fell 48 cents to close at $73.78.