Grain futures sagged along with soybeans Tuesday night. News that Brazilian authorities are clearing their roads undercut soybeans overnight, with most corn and wheat contracts also slipping. Nearby corn futures inability to top moving average resistance is probably reinforcing the selling. March corn futures slid 0.5 cent to $3.77/bushel early Wednesday morning, while July lost 0.75 to $3.9275.

The soy complex dipped on Brazilian news. Brazilian officials are reportedly clearly their roads by forcing striking truckers to move and by fining them after Monday’s big disruptions. That news is rather clearly depressing the bean and meal markets this morning, whereas spillover strength from the energy markets seems to be boosting soyoil somewhat. Beans seem likely to attract significant technical support. March soybean futures fell 5.25 cents to $10.0075/bushel Tuesday night, while March soyoil rose 0.08 cents to 31.50 cents/pound, and March meal sank $3.7 to $353.2/ton.

The wheat markets are trading mostly lower as well. The outlook for U.S. wheat still looks less than promising due to its high price and the global glut. Thus, it wasn’t very surprising to see most contracts slide in concert with soybeans last night. On the other hand, the KC market is apparently being supported by concerns about winter kill in the southern Plains when more arctic air hits the region tomorrow. March CBOT wheat sagged 2.75 cents to $5.03/bushel in early Wednesday trading, while March KC wheat rose 1.75 cents to $5.375/bushel, and March MWE wheat skidded 1.75 to $5.6425.

Cattle futures proved quite weak once again Tuesday. Cattle supplies are tight and getting tighter on a seasonal basis. Moreover, midday beef quotes rose sharply. Nevertheless, traders worry that beef is simply too expensive and will suffer from poor demand as a consequence. Nearby futures had seemingly firmed by late morning, but proved vulnerable to fresh selling as the day passed. Tuesday’s drop to fresh lows seems likely to spur more selling on their Wednesday opening. April cattle futures dove 1.52 cents to 145.57 cents/pound at their Tuesday settlement, while August cattle tumbled 1.12 cents to 138.00 cents/pound. Meanwhile, March feeder cattle futures plummeted 2.47 cents to 195.60 cents/pound and May feeders plunged 2.30 to 194.32.

Rebounding cash quotes supported hog futures. After having stabilized last week, cash hog prices have moved sharply higher this week. That news boosted nearby futures despite their premiums to current quotes. Conversely, the size of the differences, as well as midsession pork weakness, seemed to limit upside potential. Late-day cash reports were very strong, which bodes well for today’s opening. April hog futures advanced 0.25 cents to 68.57 cents/pound as the Chicago pit session ended Tuesday, while June hogs lifted 0.57 to 82.97.

March cotton diverged from weak deferreds Tuesday night. The lack of certificated stocks available for March delivery continued supporting the expiring March contract overnight, but deferred declined modestly. Traders may have been reminded that the global market is still very well supplied and may be looking for another poor export sales number tomorrow. Prospects of tightening supplies in the new crop year may be limiting losses. March cotton rallied 0.22 cents to 64.98 cents/pound shortly after sunrise Wednesday, while the July contract slumped 0.28 to 65.07.