Corn futures prices closed lower on Thursday. Bearish USDA production, stocks and supply/demand data weighed on the market. However, after gapping lower in response to the report, futures bounced back late in the session to fill the gap and trim early losses. March settled 1 3/4 cents lower at $2.16 3/4. May futures closed 1 3/4 cents lower at $2.22 1/4.

Soybean futures closed lower on Thursday. The bearish production and ending stock estimates weighed on the market. Weakness was limited by commercial buying and rumors that China has been in the market for 8-12 cargoes of U.S. soybeans. March closed 12 1/2 cents lower at $5.72 and May ended 12 1/4 cents lower at $5.81 1/2.

Wheat futures were higher on Thursday boosted by lower than expected winter wheat acreage. USDA reported only a 1 million acre increase from last year compared to expectations for a 2 million acre increase. Hard red winter wheat seedings were actually down slightly from last year. CBOT Mar was up 2 3/4 cents at $3.33 1/4. KCBT Mar gained 7 3/4 cents to close at $3.82 3/4 and MGE Mar was 4 3/4 cents higher at $3.91 1/4.

Live cattle futures rebounded on Thursday to post solid gains. Support was generated from steady cash cattle trade and ideas that Wednesday's break was overdone. Cash cattle traded at $94 to $94.50 in the southern Plains Wednesday afternoon. February closed 90 points higher at $95.12. April cattle gained 85 points to close at $93.95.

Lean hog futures ended mostly higher on Thursday after the big declines earlier in the week. Short-covering amid oversold conditions helped prices rally although if the cash market remains weak futures are expected to trend lower. February was pressured by the premium to cash and closed 90 cents lower at $59.78. April closed 58 cents higher at $65.38.