Corn futures prices closed solidly higher on Tuesday. The market rallied for the second day on follow-through buying. Futures were supported by forecasts calling for renewed dryness across Argentina over the next week or so. March settled 5 cents higher at $2.13 1/4. May closed 5 cents higher at $2.23 1/4.



Soybean futures closed ended lower on Tuesday. Market action was choppy but fund selling pushed prices lower. Ideas of increased acreage this spring and relatively favorable crop conditions in Brazil weighed on the market. March closed 3 1/4 cents lower at $5.71 1/4 and May ended 4 cents lower at $5.81.



Wheat futures settled higher on Tuesday. The market rebounded from Monday's setback amid mounting concerns about the southern Plains drought. Cold weather in the Former Soviet Union and Europe is also a bullish development. CBOT Mar was 6 1/2 cents higher at $3.32 1/2. KCBT Mar climbed 5 1/2 cents to close at $3.85 1/2. MGE Mar was up 4 3/4 cents at $3.92 1/2.



Live cattle futures closed lower on Tuesday. Futures were pressured by a steep selloff in the hog pit and concerns that Japan's halt on U.S. beef imports will last for several weeks. Ideas the cash market is topping also weighed on the market. February closed 62 points lower at $94.95. April fell 75 points to close at $93.20. March feeder cattle were 32 points lower at $111.45.



Lean hog futures closed strongly lower on Tuesday. Fund liquidation and ideas that the cash market will turn lower weighed on prices. Cash bids were mostly steady while traders were looking for firm prices today. February closed 133 points lower at $57.58 and April ended down 168 points at $62.10.