Corn futures staged a corrective technical rally on Tuesday. Fund buying turned prices higher after posting two month lows on Monday. There was little new in the market although futures had become oversold. May closed 5 1/4 cents higher at $2.23 1/2. December settled 3 1/4 cents higher at $2.53 3/4.



Soybeans futures closed higher on Tuesday. The market made a technical bounce after falling to a 14-week low yesterday. However, bearish fundamentals put a cap on the gains as traders take stock of excessive soyoil stocks, bird flu prospects and more moisture falling in the center part of the U.S. May ended 2 3/4 cents higher at $5.75 1/4 and Nov ended 1 3/4 cents higher at $6.03.



Wheat futures were higher on the close Tuesday. Bargain hunters stepped into the market following the recent steep break. Heavy snows and rain across of the hard red winter wheat belt have eased crop concerns. However, because of the previously dry conditions, more rain will be needed this spring. CBOT May was up 2 1/4 cents at $3.52 1/2. KCBT May was 3 1/4 cents higher at $4.17 and MGE May ended 3 3/4 cents higher at $4.03 1/2.



Cattle futures closed slightly higher on Tuesday. The market was two-sided today. Heavy snow in the Plains feedlot region contributed to early short covering. A break in hog futures spilled over into the cattle pit to weigh on the market before rebounding into the close. April cattle were up 12 points at $83.47. June climbed 7 points to close at $78.20. March feeder cattle fell 52 points to close at $105.10.



Lean hog futures continued to drift lower on Tuesday although prices did bounce well off the day's lows. Cash bids continued to deteriorate, even though the bad weather disrupted marketings. The weakening product demand is a key factor weighing on prices. April ended 75 cents lower at $58.25 and June fell 45 cents to $66.38.