Corn futures closed mostly lower on Tuesday in choppy trade. The corn market was caught between the sharp rally in wheat and weakness in the soy complex. Harvest is the main market feature for corn. USDA reported harvest progress as of Sunday at 9%, one point below the five-year average. Extended forecasts call for above normal precipitation. December closed down 1 1/4 cents at $2.46 1/2. March settled 1 1/4 cents lower at $2.60 1/4.

Soybean futures could not hold a higher opening and settled lower on Tuesday. Traders took profits from recent gains as harvest progress is just getting underway. Lower energy markets weighed on soybean oil and soybean meal traders also took profits after recent gains. November ended 8 3/4 cents lower at $5.44 1/4 and January was 8 1/2 cents lower at $5.57 1/4.



Wheat futures were strongly higher on Tuesday. The market gapped higher on the open and extended the rally during the session. Traders have been attuned to a smaller Australian wheat crop, but support today was still generated from ABARE lowering their estimate to 16.4 million tonnes from the previous 22.8 million. CBOT Dec was 13 1/2 cents higher at $4.09. KCBT Dec climbed 14 3/4 cents to close at $4.80 3/4. MGE Dec was up 13 cents at $4.56 1/2.



Cattle futures were lower on Tuesday. The market pulled back today, giving back the gains posted on Monday. Anxiety about recent cash market weakness and expectations for a bearish Cattle on Feed report contributed to selling pressure. Despite a slight bounce in boxed beef cutout values Tuesday morning, the tone in the wholesale beef market remains weak. October fell 77 points to close at $90.12. December was 82 points lower at $90.27. October feeder cattle were down 82 points at $115.35.



Lean hog futures ended higher on Tuesday. Short-covering pushed prices higher on ideas that Monday's losses were overdone. Technically oversold conditions and the October contract's discount to the CME hog index were also supportive factors. Gains were limited by continued weakness in the cash market. October ended 23 cents higher at $64.93 and December was 45 cents higher at $62.13.