Corn futures were lower on the day. Futures were lower the entire trading session and pressure increased into the close. Export demand remains soft and U.S. ending stocks are expected to more than double this marketing year. March corn settled 3 cents lower at 1.97.



Soybean futures edged lower on Wednesday. Fund buying remains a supportive factor, but improved chances of rain in southern Brazil and Argentina pushed prices lower. Today's market broke a string of seven sessions with a higher high. March closed 1/4 of a cent lower at $5.35.



Wheat futures were down several cents today. The recent flurry of short covering has dried up and has left the market to sag lower under the weight of bearish market fundamentals. CBOT Mar was 6 3/4 cents lower at $2.92 1/2. KCBT Mar fell 5 1/4 cents to close at $3.25 1/4 and MGE Mar was down a nickel at $3.30 3/4.



Cattle futures were mostly higher on Wednesday finding support from ideas that the cash market may hold steady this week. Packers are short bought following light trade last week. February futures closed 30 points higher at $90.50.



Lean hog futures posted solid gains on Wednesday. The price gains were attributed to short covering and some improvement in cash bids. While cash prices were slightly higher, there is still a gap of $9 to $10 between cash and futures. April ended up 90 cents to $73.90.