Corn futures ended lower on Tuesday. The absence of fund buying and technical selling weighed on prices. Fundamentals remain bearish given the large stocks of corn. March ended 3 1/4 cents lower at $2.17 1/2 and May was 3 cents lower at $2.28 1/4.

Soybean futures ended slightly lower on Tuesday in consolidation trade. Dry weather in Argentina and southern Brazil remain a concern, but forecasts for record U.S. ending stocks continue to be a weight on the market. NOPA crush this morning at 145.6 million bushels for January helped limit losses. March ended 1 3/4 cents lower at $5.82 1/2 and May was 2 1/4 cents lower at $5.95 1/2.

Wheat futures settled lower on Tuesday. Recent news that Iraq has rejected U.S. wheat export offers and an increased production estimate for Australia weighed on futures. Losses were limited by continued poor conditions in the Plains. CBOT Mar was 3/4 of a cent lower at $3.47 1/4. KCBT Mar fell 2 cents to close at $4.13. MGE Mar was down 4 cents at 3.95 1/2.

Cattle futures closed mostly higher on Tuesday. The cash market standoff continued Tuesday with buyers and sellers still far apart. Firming boxed beef prices helped support the futures market. April ended unchanged at $89.10 and June was 35 points higher at $83.92. March feeder cattle were up 65 points at $108.70.

Lean hog futures ended higher on Tuesday. Cash market strength helped support the market today. Pork cutouts prices have been firming, but packer margins remain in the red. April ended 33 cents higher at $62.93 and June was 23 cents higher at $70.18.