Corn futures were higher on Wednesday. Technically, the market is oversold and due for a bounce. However, generally favorable early planting weather and prices slipping below support remain negative factors. May ended 1 3/4 cents higher at $2.07 1/4.



Soybean futures ended higher on the day. Follow-through from Tuesday higher close and technical buying helped rally prices as support levels have recently held. USDA's supply/demand revisions on Friday are expected to be supportive. May ended 5 3/4 cents higher at $6.23 1/4.



Wheat futures bounced higher Wednesday amid ideas the market was oversold following the recent steep break. Some short-covering was attributed to pre-report trade ahead of Friday's Supply/Demand report. CBOT May was 3 cents higher at $3.14 1/4. KCBT May was up 2 1/4 cents at $3.24 3/4. MGE May climbed 2 3/4 cents to close at $3.34.



Cattle futures were lower on Wednesday pressured by a sharp break in lean hog futures and ideas that cash cattle prices are making a seasonal peak. The April contract lost 100 points to close at $87.95. June futures fell 95 points to close at $83.52.



Lean hog futures were down hard again on Wednesday. Some of the weakness came ahead of the ITC announcement to lift the antidumping duties on imports of Canadian hogs. In addition, cutout values dropped by 90 cents on Tuesday, putting downward pressure on cash hog bids. May ended 173 points lower at $74.50.