Corn futures were lower on Tuesday. Once again there was little new in the market and prices edged lower with futures holding within Monday's daily trading range. The trade is marking time waiting on USDA's Supply/Demand report. March corn ended 1 1/2 cents lower at $1.94 3/4.



Soybean futures ended higher today on light short-covering ahead of the USDA Supply/Demand report. The market was viewed as oversold after last week's dip below $5. However, gains have been limited by generally favorable South American weather. March settled 2 1/4 cents higher at $5.03 1/2.



Wheat futures were mixed on the close. There was no major fundamental news to provide direction. Much of the buying was attributed to short covering ahead of the USDA Supply/Demand report due out Wednesday morning. CBOT Mar was down 3/4 of a cent at $2.91 3/4. KCBT Mar gained 1 3/4 cents to close at $3.28. MGE Mar was up 2 1/2 cents at $3.40 3/4.



Cattle futures were higher today boosted by news that Japan was moving closer to lifting its ban on U.S. beef. In addition, feedlot conditions are generally muddy with light rain stressing cattle in the southern Plains. The April contract was 15 points higher at $88.80.



Lean hog futures ended mostly lower on Tuesday. Liquidation of the February contract led the soon to expire month down while deferreds were mostly lower on commercial selling and weak cash markets. April ended 35 cents lower at $74.00.