Corn futures edged higher on Wednesday. Gains were driven mainly by ideas futures had become oversold on the recent break. Strength in wheat and soybeans also appeared to help support corn futures. March settled up 1/2 of a cent at $2.01 1/2.



Soybean futures closed higher on Wednesday. Short-covering and profit-taking from the losses posted the past two trading sessions helped rally futures. Rumors of some export business to China were also supportive. March soybeans were 2 cents higher at $5.27.



Wheat futures were higher today. Strong basis levels and reports of slow cash movement provided fundamental support. Short covering and bargain hunting were also supportive. CBOT Mar was 3 3/4 cents higher at $2.99 3/4. KCBT Mar climbed 5 cents to close at $3.33 1/2. MGE Mar also gained a nickel to close at $3.40 3/4.



Cattle futures were lower on Wednesday. The market gave back some of Tuesday's big gains. Ice and snow in the Plains feedlots failed to offset weaker beef prices and concerns about the pending proposal that will reopen the border to Canadian cattle. February fell 107 points to close at $89.40.



Lean hog futures ended lower on the day. Futures prices paused after recent gains due to the continuing gap between cash and futures. Cash hog bids were mixed today despite continuing weather problems that disrupted marketings. February closed 75 cents lower at $75.75.