Chicago corn and wheat saw downward momentum or none at all in trading Tuesday, while Chicago soybeans sharply rose thanks to continued reports of a small South American harvest.

The most active corn contract for July delivery declined 4.5 cents, or 0.73 percent, to close at 6.08 dollars per bushel. July wheat was unchanged from Monday, settling again at 6.325 dollars per bushel. July soybeans sharply rose 24 cents, or 1.67 percent, to close at 14.65 dollars per bushel.

Soybeans recovered from Monday's losses, pushing the July contract to a new high. Soybeans are now more than 60 cents higher than last week's lows.

Continued reports of a smaller South American soybean crop fueled trading Tuesday, as South American production estimates are increasingly revised down. Also, talk that Argentina could reduce the crush pace and temperatures around Buenos Aires fell below freezing levels further lent support to the U.S. crop.

Despite the jump, soybeans still settled more than six cents off the day's high, as stagnation in the other grains markets pulled the market back slightly.

Corn ended the day down slightly, despite a report of strong export sales.

As rumors of a Chinese tender had driven the corn market up Monday, some analysts could have expected the confirmation to help corn end higher Tuesday. However, after an early rally following the sale that pushed corn to levels not seen since April 13, corn lost momentum and ultimately ended the day down.

Wheat ended the day unchanged, seeing both positive and negative forces. While an upcoming cold weather forecast helped support for wheat, continued reports of a fast planting pace provided some pressure. Enditem