Corn futures slid to new contract lows on Tuesday. Speculative selling amid the lack of supportive news pressured futures due to lack of planting concerns. Planting progress as of Sunday was above expectations at 52% complete and forecasts call for mostly favorable weather this week. July ended 4 cents lower at $2.05.



Soybean futures ended lower today. Weakness in the corn market and speculative selling weighed on futures. Planting concerns are being alleviated due to forecasts for warmer weather and mostly dry condition in the Midwest this week. July fell 1 3/4 cents to close at $6.25 1/2.



Wheat futures were lower Tuesday. Heavy speculative long liquidation pressured prices after an early rally attempt faltered. Initial strength was attributed to a decline in winter wheat condition ratings last week. CBOT Jul was down 5 1/2 cents to close at $3.17 3/4. KCBT July was 6 1/4 cents lower at $3.19 3/4. MGE July wheat was down 6 cents at $3.34 1/2.



Cattle futures were higher on Tuesday. The futures market bounced on ideas that the June contract is too far below the cash market. Feeder cattle surged to new highs today due in part to lower corn prices. June fed cattle closed 45 points higher at $85.40.



Lean hog futures ended lower on Tuesday. Commercial selling and profit-taking weighed on the market despite higher cash markets. Sell-stops were triggered today that extended losses in the summer months. June fell 85 cents to close at $76.58.