CBOT futures closed higher but soybeans backed way off the day’s highs established about noon. Competition from palm oil weighed on soybean oil futures which ended up closing lower. Traders talked about China buying US soybeans this morning.

  December Corn closed a nickel higher and above the 100-day moving average, but was inside Monday’s trading range.  More export business keeps going to the competition.

  USDA should be back to work tomorrow and we’ll get the delayed Crop Progress report to see how much crop is harvested.

  Cattle futures closed surprisingly strong today, especially in Feeder Cattle futures.  Fundamentals didn’t improve as there has been light cash trade at steady to $1 weaker.  Boxed beef closed mixed: Choice up 0.67 at 198.17; Select dn 1.20 at 177.88.

   The NY Stock Exchange and NASDAQ say they will operate normally on Wednesday.  Stock index futures will open at 6 pm ET today.

Corn Dec +5 742; Mar +5.5 744.5; Dec’13 +1.5 637

Bean Nov +6.5 1534 (hi 1548); Mar +5 1511; Nov’13 +2 1331   Meal Dec +3.5 476 (hi 483); May +2 434   Oil -9 5009 (hi 5055)

Wheat Dec -1 857 (hi 866); Jly +6 868   KC -1 902; MGE -3.5 935

LC Oct +52 12590; Dec +92 12620; Jun +50 13040 FC Nov +112 14705; Jan +202 14950; Apr +147 15277

LH Dec +30 7810; Feb +62 8387; Jun +57 10057

Milk Nov +12 2098; Dec +6 2003

Oats +1 389

Rice +3.5

 US$ -.4%

WTI +22 8576

Brent -56 10888

Gas +1 277

NG -10 370

HO -2 206.5

Eth +2 240

Gold +1 1710

Slvr +2 3177