Corn futures ended lower on Wednesday, after trading higher most of the session. Corn futures were higher until the last half hour of trading when selling pressure hit. Traders are awaiting USDA's reports due out tomorrow morning. May settled 1/2 of a cent lower at 2.12 1/2.



Soybean futures closed strongly higher today. Fund buying pushed prices higher on what was likely short-covering ahead of the USDA reports. Steady to firm cash basis was also a supportive factor. May futures ended 17 cents higher at $6.41.



Wheat futures were lower on the close Wednesday. Selling was attributable to month end liquidation and position evening ahead of the USDA reports. Favorable crop conditions in the hard red winter wheat belt are weighing on the KCBT. CBOT May was 1 cent lower at $3.33 1/2. KCBT May was down 5 1/4 cents at $3.38 1/2. MGE May fell 4 3/4 cents to close at $3.49 3/4.



Cattle futures closed lower Wednesday to leave a negative reversal pattern on the charts despite strongly higher cash prices in Nebraska. Cash cattle traded in the $94 to $96 range in Nebraska Wednesday morning, up $3 to $4 from last week. April futures closed 35 points lower at $89.75.



Lean hog futures closed lower on Wednesday, pressured by futures big premium to cash. Cash bids were stronger on Wednesday helping to close the gap, but traders are beginning to roll out of April, which has a negative impact on prices. April closed down 58 cents at $68.70.