Corn futures were steady to fractionally lower on Tuesday. The market was pressured by a mild correction from Friday's rally and light selling pressure on news that bird flu continues to spread across Europe and India. March settled 1/2 of a cent lower at $2.26. May closed 1/4 cent lower at $2.37.



Soybean futures ended lower on Tuesday. Technical selling following the rally on Friday pressured prices. Also pushing the market down was the bearish news about the spread of bird flu to Europe and India and the potential impact on soybean meal demand. March settled 13 3/4 cents lower at $5.87 1/2 and May was 13 1/2 cents lower at $6.01.



Wheat futures were mostly higher on Tuesday. Crop concerns and a report that Iraq will include some U.S. wheat in its next round of purchases supported the market. Some winterkill is expected in the central Plains following the recent cold snap. CBOT Mar was 4 1/2 cents higher at $3.72 1/2. KCBT Mar climbed 4 3/4 cents to close at $4.40. MGE Mar was down 3/4 of a cent at 4.15 1/4.



Cattle futures closed higher on Tuesday. The market found support from a jump in beef prices. The steep decline in slaughter has forced wholesale beef prices higher. Packer margins have improved, but are still in the red. April cattle were up 77 points at $88.47 while June was 42 points higher at $83.45. March feeder cattle were up 30 points at $107.62.



Lean hog futures closed mostly higher on Tuesday. The market traded lower for most of the session but managed to edge higher on a late session rally. Increased marketings pressured the cash market. Packers are still dealing with poor margins and there talk of a slaughter slowdown later this week. April ended 8 cents higher at $63.25. June ended 8 cents higher at $70.73.