Corn futures were solidly higher on Wednesday. The market was supported by forecasts for a snow storm in the Corn Belt that will further delay the last 5% of harvest. Weakness in the dollar and strength in crude oil futures were also supportive factors. March was 6 cents higher at $4.04 3/4 and May closed 6 cents higher at $4.15 1/4.



Soybean futures closed higher on Wednesday. The market rebounded from the losses on Tuesday that had pushed prices to the lowest level since mid-November. The Census crush number released this morning was supportive as November soybean crush was pegged at a record 168.6 million bushels. Weakness in the dollar and strength in crude oil were also supportive factors. January ended 10 1/4 cents higher at $10.01 1/4 and March was 10 1/2 cents higher at $10.09.



Wheat futures were higher on Wednesday. Weakness in the dollar and spillover strength from corn and soybeans supported the wheat market. However, further gains were limited by sluggish export demand and light pre-holiday trade volume. CBOT March was 6 cents higher at $5.29, KCBT March ended 5 3/4 cents higher at $5.23 and MGE March closed 3 cents higher at $5.34 1/4.

Cattle futures were strongly higher on Wednesday. Strength in the cash market and a small bounce in boxed beef prices yesterday supported futures. Packers raised bids on Tuesday ahead of the approaching winter storm for the Plains and Midwest. Cash prices were generally $1 higher in the southern Plains and $3 higher on a dressed basis in Nebraska compared to last week. December closed $1.33 higher at $83.28 and February was 70 cents higher at $85.38.



Lean hog futures posted strong gains on Wednesday. The market rallied in thin trade on support from the Cold Storage report on Tuesday that showed November 30 pork stocks at 487.2 million pounds, down 5.6% from October and 7.5% below year-ago. However, further gains were limited by concern that pork prices peaked last week at a 14-month high. February ended 93 cents higher at $65.68 and April was $1.05 higher at $70.13.