Corn futures were steady to higher on Thursday. Lower overnight trade carried over into the market early with spillover weakness also noted from wheat. But as soybean prices turned higher corn slowly recovered. That along with solid weekly export sales helped corn prices bounce back. December futures closed unchanged at $3.27. March settled 1/4 cent higher at $3.39 1/2.



Soybean futures were able to post gains on Thursday. Futures were able to rally despite weakness in corn and wheat. Soybean oil offered some support following a bullish soyoil stocks number in the September Census Bureau crush report. Strength in crude oil was also supportive. November ended 5 3/4 cents higher at $6.27 3/4 and January was 6 1/4 cents higher at $6.41 3/4.



Wheat futures closed lower on Thursday. Prices were pressured by another round of profit taking with technical selling weighing on the market after Wednesday's reversal from early highs. Some rains in the central Plains contributed to the selling pressure. Despite recent weakness, there has been no major chart damage. CBOT Dec closed down 9 1/4 cents at $5.07 1/2. KCBT Dec was 5 1/4 cents lower at $5.30 1/4. MGE Dec was 6 3/4 cents lower at $5.06 3/4.



Cattle futures were strongly higher Thursday. The market opened higher and gained momentum to the upside after punching through chart resistance at Monday's high just over $89 in the December contract. Sharply higher lean hog futures and expectations for higher cash cattle prices this week provided fundamental support. December was up 207 points at $90.65 and February was 135 points higher at $92.57. November feeder cattle climbed 55 points to close at $105.00.



Lean hog futures were sharply higher on Thursday with the December contract closing up the daily $3 limit. A solid increase in the pork cutout on Wednesday was the trigger for the big futures price gains. Once prices moved higher the market hit buy stops and fueled the rally. December ended at $64.48 and February was $2.75 higher at $67.20.