Corn futures were on Tuesday. After the sharp rally the past several days, prices were certainly due to set back. The pullback, though, was not a decisive signal that the latest rally is over. May ended 3 1/2 cents lower at 2.19 1/4.



Soybean futures closed lower on technically selling following the recent rally to six-month highs. Continued dry weather conditions in southern Brazil continue to underpin prices. May closed 8 3/4 cents lower at $6.13 1/4.



Wheat futures were lower today giving back some of the recent strong gains amid ideas that the market was overbought. The rapid rise had left the market overbought and longs were anxious to take profits. CBOT May was 7 cents lower at $3.38 1/4. KCBT May fell 6 3/4 cents to close at $3.50 3/4. MGE May wheat was down 6 14 cents at $3.58 3/4.



Cattle futures were higher on Tuesday bolstered by short covering ahead of the Montana court hearing on the Canadian import issue scheduled for Wednesday morning. Also, reports of smaller showlists and steady to higher cash trade were supportive. April climbed 45 points to close at $86.50.



Lean hog futures posted strong gains on today with several contract reaching new highs. There is no clear reason for this price strength. Cash prices remain mired under the $70 mark and may go lower if cutout values don't improve. April was up $1.03 to close at $75.25.