Corn futures closed higher on Wednesday. Follow-through buying from yesterday's strong gains and fund buying supported the market. Hot and dry weather in Argentina remains a supportive factor as well. March ended 3 1/4 cents higher at $2.16 1/2. May settled 2 3/4 cents higher at $2.26.

Soybean futures settled lower Wednesday on late session sell-off. Strength in the other grains and commodities spilled over into the soybean pit for much of the day, holding them higher. However, late selling pressured prices and reinforced bearish fundamentals. March closed 4 1/4 cents lower at $5.67 and May ended 3 cents lower at 5.78.

Wheat futures posted gains again on Wednesday. Fund buying supported the market with help from supportive fundamental news. Forecasts call for more dry weather in the southern Plains and winterkill concerns remain for eastern Europe and Russia. CBOT Mar ended 9 1/2 cents higher at $3.42, KCBT Mar was 6 cents higher at $3.91 1/2 and MGE Mar closed 4 1/4 cents higher at $3.96 3/4.

Cattle futures ended firm on Wednesday. Short-bought packers and tight supplies of market ready cattle are expected to support cash prices this week. However, futures gains were limited by ideas the cash market is topping and lower boxed beef prices on Tuesday. February ended 5 cents lower at $94.90 and April was 10 cents higher at $93.30.

Lean hog futures closed lower on Wednesday. Lower cash prices and technical weakness weighed on the futures market. Pork cutouts values are declining and there is talk of only a light Saturday slaughter. February futures closed 42 cents lower at $57.35 and April ended 35 cents lower at $61.75.