Corn futures were lower on Tuesday although trade turned more two sided after Monday's plunge. The forecast for rain across much of the Corn Belt this week is seen as negative for prices. The rain would help replenish depleted soil moisture ahead of planting next month. May futures closed 2 1/4 cents lower at $2.30 1/2. December ended 1 3/4 cents lower at $2.57 3/4.



Soybean futures ended lower on Tuesday. Speculative selling and rain in the Midwest weighed on the market. The forecast for rain in the Midwest this week has traders thinking about bigger crops. Also, the continuing saga of expanding bird flu is threatening to pressure usage of meal. May futures settled 10 1/2 cents lower at $5.90. November ended 8 1/2 cents lower at $6.14.

Wheat futures were mixed on the close Tuesday. Late selling pressure erased gains from declining winter wheat crop condition ratings. One reason the rally could not be sustained was forecasts for better chances of rain in the Plains into next week. CBOT May was 1 cent higher at $3.81. KCBT May was down 3/4 of a cent at $4.38 3/4. MGE May was 1 3/4 cents higher at $4.24 3/4.



Cattle futures closed lower on Tuesday. Futures extended the downward trend, with the April contract slipping to the lowest level since August 22. Heavy technical selling swamped the market with speculative longs finally throwing in the towel. April cattle were 92 points lower at $84.77. June was down 90 points at $80.37. March feeder cattle were down 125 points at $104.70.



Lean hog futures closed sharply lower on Tuesday. April led the way as traders were rolling long positions out of the nearby contract. Weakness in the cash market and the June contract's premium to the lean hog index also weighed on prices, with technical selling extending losses. April ended 137 points lower at $59.40 and June was 87 points lower at $68.65.