Corn future ended fractionally higher on Wednesday. The market was supported by the rebound in crude oil futures and the stock market along with spillover buying from soybeans. Weather remains a concern for corn traders as current cool and wet conditions and forecasts for more rain point to some planting delays. Gains were limited by positioning ahead of the Supply/Demand report. May ended 3/4 of a cent higher at $3.97 and December closed 1/4 of a cent higher at $4.27 3/4.



Soybean futures closed higher on Wednesday, led by old-crop contracts. Strong export demand and expectations that USDA will tighten the old-crop ending stocks projection further on Thursday morning were supportive. New-crop was pulled higher as well, although gains were moderate. May gained 16 1/2 cents to close at $10.06 and November was 7 1/2 cents higher at $9.16.



Wheat closed lower on Wednesday after a choppy trading session. The market was pressured by profit-taking after recent gains and ideas that possible freeze damage has already been factored into prices. Losses can also be attributed to positioning ahead of the Supply/Demand report due out Thursday morning. CBOT May ended 7 3/4 cents lower at $5.32, KCBT May was 10 cents lower at $5.80 and MGE May closed 5 cents lower at $6.56 3/4.



Cattle futures closed mostly higher on Wednesday, although the deliverable April contract was lower on delivery notices and the premium held to last week's cash market. Deferreds were supported by recent strength in beef prices and ideas that demand will soon improve seasonally. At midday choice cutouts were 18 cents and hit the highest level since early February. April was 23 cents lower at $86.05 while June inched 3 cents higher at $83.78.



Lean hog futures closed mostly lower on Wednesday. Lower cash prices weighed on front end contracts. The cutout value posted a solid gain on Tuesday, providing some hope that demand will improve. However, little overall improvement in hog prices is expected until after Easter. April ended 80 cents lower at $58.38 and June was 10 cents lower at $73.35.