Corn futures ended lower on Tuesday. Weakness in wheat and improved soil moisture conditions in Argentina were bearish factors. Selling pressure intensified once March corn futures broke below chart support just below $2.10. March settled 4 3/4 cents lower at $2.08 3/4. May closed 4 3/4 cents lower at $2.18 1/4.



Soybean futures settled lower on Tuesday. Beneficial weekend rainfall in
Argentina and forecasts for rain in southern Brazil weighed on the market. NOPA crush for December totaled 142.2 million bushels, which was below trade expectations of 145 million. March ended 5 1/4 cents lower at $5.71 1/4 and May fell 4 3/4 cents to $5.80 3/4.



Wheat futures closed moderately lower on Tuesday. The market gave back last week's gains amid concerns about global export competition. USDA reported this morning that weekly export inspections fell to only 11.8 million bushels, down from 22.6 million the previous week. CBOT Mar was down 6 cents at $3.28 3/4. KCBT Mar fell 8 cents to close at $3.75 1/4 and MGE Mar was 6 cents lower at $3.86.



Live cattle futures were higher on Tuesday. The market was boosted by stronger cutout values and reports of smaller showlists. Commercial buying underpinned the market amid ideas that cash cattle prices will be $1 to $2 higher this week. February closed 97 points higher at $96.55. April climbed 55 points to close at $94.95.



Lean hog futures closed mostly higher on Tuesday. Gains were attributed to a correction from recent losses, after February dipped to five-month lows on Friday. Spread activity was supportive for February, but weighed on the April contract. February ended 48 cents higher at $59.48 and April was 25 cents lower at $64.63.