Corn futures closed higher on Tuesday. Strength in corn was aided by gains in the metals and crude oil. Otherwise, fundamental news was limited. Technically, the March contract pushed above near-term chart resistance, opening the way for the market to test contract highs posted in January. March ended 6 1/4 cents higher at $4.11 while new-crop December was 4 1/2 cents higher at $4.03.



Soybean futures were higher on Tuesday. The market rebounded from the weakness yesterday. Strength in crude oil markets helped support soyoil prices and soymeal prices were lifted by harvest delays in Brazil, which are causing soymeal prices to increase there. March ended 9 3/4 cents higher at $7.55 and November was 9 1/4 cents higher at $8.07.



Wheat futures settled higher on Tuesday. Persistent strength in corn and soybeans underpinned wheat amid a lack of market moving news. Rain and snow in the southern Plains continues to bolster soil moisture but the favorable crop prospects in that region have already been well discounted. CBOT Mar was 3 1/4 cents higher at $4.59. KCBT Mar was up 5 3/4 cents at $4.87 1/2 while MGE Mar was 6 cents higher at $4.98.



Cattle futures closed higher on Tuesday. The market rallied to new contract highs on support from sharply higher wholesale beef prices and another round of winter weather in the Plains. Heavy commodity fund buying was noted as futures climbed to new life of contract highs across the board. February was up 70 points at $94.40 while April was 107 points higher at $96.35. March feeder cattle climbed 122 points to close at $100.72.



Lean hog futures closed mixed on Tuesday with nearbys losing ground while deferred contracts posted modest gains. Cash hog prices were steady to mostly higher today as bad weather caused light marketings while demand is strengthening. Pork cutout values have increased and packer margins are the best they have been in a month. April ended 25 cents lower at $67.27 and June contract fell 23 cents to $77.05.