Anticipation of a large US harvest may have weighed upon corn futures Thursday. The strong result on the delayed Export Sales report and talk of vigorous global feedgrain demand supported prices in early trading. Strong equity index gains and US dollar weakness also seemed supportive. However, talk of accelerating harvesting and a surprisingly large crop reportedly pulled futures downward. December corn futures dipped 2.5 cents to $4.4025 at Thursday’s close, while May futures lost 2.75 cents to $4.61.

Soymeal gains limited soybean losses. Traders expected the Export Sales report to state early-October soymeal exports in the 150,000-250,000 tonne range. The actual figure came in at 1.189 million, thereby suggesting global demand is far exceeding expectations. The resulting soymeal advance largely offset harvest pressure on bean prices. Soy oil prices suffered from negative palm oil moves and from being on the wrong side of the crush spread. November soybean futures closed 0.25 cent lower at $13.0975/bushel Thursday, while December soyoil tumbled 0.37 cents to 41.13 cents/pound, and December soymeal surged $4.6 to $426.0/ton.

Most wheat futures also lost ground in Thursday’s trading. Fresh reports that India’s cabinet will lower the floor price asked for the country’s wheat on the international market probably weighed upon golden grain prices in early action. The Export Sales data were largely neutral for the market. Long liquidation in the wake of the recent rally apparently weighed upon prices as well. December CBOT wheat futures fell 5.25 cents to $6.965/bushel in late Thursday action, while December KCBT wheat futures declined 6.5 cents to $7.6425 and December MWE futures sank 6.75 cent to $7.52.

Surging beef prices continued supporting cattle futures. CME prices dipped Wednesday afternoon despite strong cash news, then staged a sustained comeback Thursday. Traders apparently worry about late-year weakness. However, this week’s wholesale reports have stated cutout values at consistently higher levels, thereby implying improving packer demand for fed cattle. December cattle settled 0.13 cents higher at 132.87 cents/pound Thursday afternoon, but April slipped 0.07 to 134.92. November feeder cattle dropped 0.67 cents to 166.95 cents/pound and January feeders dove 0.87 to 166.70.

Talk of spreading PEDV infections reportedly sent hog futures higher Thursday. Although traders remain concerned about the short-term outlook, CME lean hog futures, especially the 2014 contracts surged today. Wire service sources cited a recent increase in the number of new porcine epidemic diarrhea virus (PEDV) cases for the futures advance. December hog futures jumped 1.45 cents to 89.60 cents/pound as Chicago trading ended Thursday, while April leapt 2.32 cents to 92.92 cents/pound.