Corn futures ended higher on Thursday. The market opened higher, but gains faded throughout the session. The March contract fell just short of a new contract high. Another decline in crude oil today and ethanol helped take some steam out of the market. However, the market sentiment remains positive. March settled 4 1/4 cents higher at $4.12 1/4 while new-crop December was 2 1/2 cents higher at $3.91 1/2.

Soybean futures ended lower on Thursday. After opening higher on spillover support from corn, bullish momentum was unable to keep prices higher. As gains in corn were trimmed, soybeans fell. Soybeans are expected to continue to follow corn due to acreage concerns this spring. March ended 5 3/4 cents lower at $7.16 1/4 and November was 3 cents lower at $7.67 1/2.

Wheat futures settled lower on Thursday. The market turned lower after a higher open. The market continues to be heavily influenced by corn but the prospect of another round of winter precipitation in the Plains contributed to the lower close in wheat today. CBOT Mar fell 6 cents to close at $4.71. KCBT Mar was 3 cents lower at $4.95 while MGE Mar slipped 1/2 cent to close at $5.01 1/2.

Cattle futures closed mostly lower on Thursday. Lower boxed beef cutout values and the lack of cash market activity allowed futures to sag a few points lower despite forecasts for another round of wintery weather in the southern Plains into the weekend. February fell 15 points to close at $92.40. April was down 40 points at $93.55. January feeder cattle were 135 points higher at $95.27.

Lean hog futures closed mixed on Thursday with front months losing ground and back months showing small gains. Front months were pressured by fund selling, profit taking, and the February contract's premium to the settlement index. Corn prices showed only modest gains and had little impact on hog futures today. February ended 8 cents lower at $61.80. June ended up 20 cents at $75.12.