Corn futures settled higher on Wednesday amid weather concerns and slow harvest progress. Harvest progress is ramping up a little slower than expected and cool, wet conditions over the next one to weeks suggest that harvest progress will be spotty and remain a little slow. December closed 2 1/2 cents higher at $2.49. March settled 2 cents higher at $2.62 1/4.



Soybean futures closed higher on Wednesday. Short-covering following yesterday's steep decline supported prices. The market was choppy today, but found support from the cool, wet weather that is hampering soybean maturity and slowing down harvest activity. November ended 5 cents higher at $5.49 1/4 and January was 5 cents higher at $5.62 1/4.



Wheat futures dipped to a lower close Wednesday. Profit-taking following yesterday's rally and favorable planting weather in the Plains contributed to the weakness. Despite this week's positive chart action, the wheat market still needs to see stronger export demand to sustain higher prices. CBOT Dec was 1 1/4 cents lower at $4.07 3/4. KCBT Dec fell 4 1/2 cents to close at $4.76 1/4. MGE Dec was down 3/4 of a cent at $4.55 3/4.



Cattle futures were sharply lower on Wednesday, plunging to the lowest level since early August. Renewed weakness in boxed beef cutout values and expectations for lower cash prices weighed on the market. Buyers remained on the sidelines due to concerns about a bearish Cattle on Feed report due out Friday. October fell 107 points to close at $89.05. December was 142 points lower at $88.85. October feeder cattle plunged 147 points to close at $113.87.



Lean hog futures closed with big losses on Wednesday. Cash prices have dropped significantly over the past week or two and there were further declines today. Hog supplies are high and hog weights are also up. Chart patterns have turned negative and prices are typically weak at this time of year. October closed 75 cents lower at $64.18 and December fell 85 cents to $61.28.