Corn futures were higher Tuesday as futures rebounded late in the session. Early pressure stemmed in part from the sharp break in the wheat market. But once the March corn futures contract expired at noon, corn prices seemed to get a boost. May closed 2 1/2 cents higher at $2.20 1/2. December settled 2 cents higher at $2.58.



Soybean futures ended higher on Tuesday. After trading lower most of the session, the market turned higher on light speculative buying after technical support held. Soybean meal futures pulled higher on commercial buying, which provided spillover support for soybeans. May ended 3 1/4 cents higher at $5.87 3/4 and November closed 2 1/4 cents higher at $6.13 1/4.



Wheat futures were lower on Tuesday. The market gapped lower on the open and traded down sharply through midmorning before trimming losses at the close. Forecasters are calling for good chances of moderate weekend rainfall in the Plains. CBOT May fell 5 cents to close at $3.62 1/2. KCBT May was 11 cents lower at $4.23 3/4. MGE May was down 7 1/2 cents at $4.14 1/4.



Cattle futures closed lower on Tuesday. The market was able to open higher and trade in positive territory through late morning. However, a decline in boxed beef cutout values and weakness in the lean hog futures sparked a late selloff. April cattle were down 52 points at $83.10. June fell 57 points to close at $78.55.



Hog futures dropped sharply on Tuesday with the April contract and the June contract finishing down the daily $2 limit. Other months also dropped significantly but avoided the limit down close. Losses were attributed to cash weakness and the lack of supportive factors. April closed $57.73 and June ended $66.63.