Corn futures closed slightly higher on Tuesday. Market action was limited as the market consolidates after setting contract lows early last week. Planting progress has been strong, but emergence is lagging the five-year average. July ended 1/2 of a cent higher at $2.08 1/4.



Soybean futures ended mixed on Tuesday. After trading higher in the morning, old-crop contracts slipped to a lower close. Gains in new-crop were trimmed, but concern about conditions becoming dry in the eastern Corn Belt helped keep new-crop futures higher. July ended 3 3/4 cents lower at $6.34.



Wheat futures were strongly higher Tuesday boosted by a decline in the winter wheat crop condition ratings. Forecasts still call for good chances of rain in the southern Plains later this week. However, the longer range forecasts point to a warm, dry pattern through the remainder of May. CBOT July was 8 cents higher at $3.21 1/2. KCBT July climbed 8 1/2 cents to close at $3.22 3/4. MGE July was up 3 3/4 cents at $3.33 1/4.



Cattle futures were mostly higher on Tuesday with the discount to the cash market underpinning the June contract. Anticipation of higher April placements in the next Cattle on Feed report kept the August contract on the defensive. June futures closed 70 points higher at $86.10.



Lean hog futures closed mostly lower on Tuesday with only June posting a small gain. Charts have turned very negative and falling cash bids are also putting downward pressure on hog futures. June ended 18 cents higher at $75.30. August fell 90 cents to close at $73.95.