Corn futures were lower today. While the news is quiet, large old-crop supplies, faltering exports and favorable new-crop planting weather are keeping the pressure on prices. May ended 1 cent lower at $2.05 3/4.



Soybean futures traded choppy most of the day on Wednesday, but pulled higher in afternoon trade. Commercial buying and bull spreading ahead of the delivery period supported prices. Talk of export business with China was also a supportive factor. May ended 5 3/4 cents higher at $6.23 1/4.



Wheat futures were mostly lower Wednesday. There was little new in the market, but U.S. weather has been mostly beneficial to the crop. There is some concern about increasing dryness in eastern Australia where seeding is about to get underway. CBOT May was 1/2 cent lower at $3.10 1/2. KCBT May was 1/2 cent lower at $3.21 1/4. MGE May closed up a penny at $3.27.



Cattle futures closed steady to lower on Wednesday. The April contract held steady on continued ideas of steady $90 cash trade this week, but deferreds were lower on light profit-taking. The April contract was steady at $89.03. June fell 40 points to $84.28.



Lean hog futures closed mostly lower on Wednesday. Cash hog prices were up on Wednesday providing some support to nearby futures but shrinking packer margins have traders worried about how much more cash prices can rally. June hogs fell 33 cents to close at $77.33.