Corn futures were lower today. Technical and fund selling continued to drive prices lower. The price gains have evaporated just as quickly as they appeared earlier this month. May ended 3 3/4 cents lower at 2.10 3/4.

Soybean futures closed ended lower on Wednesday, but were above the lows for the day. Speculative selling along with fears of inflation and the rising value of the dollar were negative factors. However, the market closed near the highs for the day. May closed 4 cents lower at $6.23 1/4.

Wheat futures were a few cents lower Wednesday. Comments released from the Federal Reserve Open Market committee meeting yesterday suggesting a stronger stance against inflation set the negative tone across commodity markets. CBOT May was 7 3/4 cents lower at $3.36 3/4. KCBT May fell 4 1/4 cents to close at $3.45. MGE May was down 5 cents at $3.55 3/4.

Cattle futures were modestly lower today after a two-sided trading session. The lack of cash trade and uncertainty about the looming appeal over Canadian border issue kept the market on edge. April futures closed 22 points lower at $87.40.

Lean hog futures closed lower on Wednesday, with sizable losses in the deferred contracts. The data in Tuesday's cold storage report was bearish and cash prices drifted lower on Wednesday. April closed down 43 cents at $70.15. June fell $1.15 lower at $78.15.