Corn futures ended higher on Tuesday. The market was able to stabilize following recent losses. The market is expected to consolidate on Wednesday ahead of the USDA reports due out on Thursday. March closed 2 1/4 cents higher at $2.13 1/4 and May ended 2 cents higher at $2.22 1/2.



Soybean futures closed lower again on Tuesday. Technical weakness weighed on the market as futures fell below key moving averages. Forecasts for rain in Argentina and expectations for USDA to raise their 2005 crop production estimate and 2005-06 ending stocks are bearish factors. March closed 5 cents lower at $5.89 and May ended 4 cents lower at $5.99.



Wheat futures settled higher on Tuesday. The market rebounded from recent losses on bargain-hunting and commercial buying. Trading was quiet as market participants get positioned for the USDA reports due out Thursday morning. CBOT Mar was up 2 3/4 cents at $3.29 1/4. KCBT Mar gained 1 1/2 cents to close at $3.70 1/2 and MGE Mar was up 2 1/4 cents at $3.82 3/4.



Cattle futures closed slightly higher on Tuesday. The market was supported by higher boxed beef cutout values and continued negotiations with Korea on allowing beef imports. The sharp break in hog futures limited gains. February was 7 points higher at $96.55. April closed 10 points higher at $95.47.



Lean hog futures plunged on Tuesday with the February and April contracts closing down the daily $2 limit. A fifth straight decline in the pork cutout and weaker cash hog bids pushed futures lower and losses accelerated when sell stops were hit. February closed at $62.68 and April ended at $66.80.