Corn futures were strongly lower on Thursday. Strength in the dollar and some improvement in weather forecasts weighed on the market. Weather forecasts call for warming temperatures, but periodic rainfall is expected and hot spells are not expected to be prolonged. Warmer weather should helped speed the lagging crop maturity. September closed 14 1/2 cents lower at $3.32 1/2 and December was 16 3/4 cents lower at $3.53 3/4.

Soybean futures closed lower on Thursday. Strength in the dollar led to a profit-taking setback. Weather forecasts show warmer weather over the Midwest, which should help crop maturity. Chances of rain and the absence of any prolonged hot spells are expected to limit crop stress. Losses were limited by strong export demand. Old and new-crop sales last week were above pre-report trade expectations. September ended 8 1/2 cents lower at $10.79 1/2 and November was 15 cents lower at $10.30.

Wheat futures were sharply lower on Thursday. Spillover pressure from corn and soybeans, strength in the dollar, ample global wheat supplies and Egypt passing on U.S. wheat in a recent tender all pressured prices. Wheat futures fell below technical support, which helped trigger additional selling pressure today. CBOT Sep ended 28 1/2 cents lower at $5.00 1/4, KCBT Sep was 26 1/4 cents lower at $5.34 and MGE Sep closed 27 3/4 cents lower at $5.79 1/4.

Cattle futures closed lower on Thursday. Spillover weakness from lean hogs and steady to lower cash trade today pressured futures. Some cash trade developed in Nebraska at $82 live and $130 dressed, which is steady to down slightly from last week. Boxed beef prices have been on the defensive recently although at midday choice cutouts were up 15 cents. Strong losses in corn were also a negative factor for the market. August ended 83 cents lower at $83.20 and October was 70 cents lower at $89.13.

Lean hog futures were sharply lower on Thursday, with nearly all contracts posting new lows. Fundamental pressure came from weakness in the cash market and the $1.76 drop in pork cutout values. Fund selling helped extend losses as the market remains very weak technically. Futures are at a discount to current cash prices, but the market remains concerned that the H1N1 flu will continue to hurt pork export demand. August closed $2.28 lower at $51.08 and October ended $2.63 lower at $47.57.