Corn futures were lower on Thursday. Stock prices were steady to higher, but seemed to have less influence on the corn market than in recent days. There appeared to be less pressure from fund liquidation even though price tumbled into the close. Fund selling remains a threat to prices. May closed 7 cents lower at $3.97 3/4 and December was down 4 1/4 cents at $3.97 1/2.

Soybean futures settled lower on Thursday. Spillover weakness from corn and crude oil pressured prices. The continuing good harvest weather in South America is also providing some weakness although Brazil does have a couple of wet spots that are hampering harvest. May soybeans ended 3 cents lower at $7.50 1/2 and November ended 2 1/4 cents lower at $7.90.

Wheat futures ended lower on Thursday. Futures managed an opening blip higher but quickly turned lower. Late selling pressure in corn helped push wheat to the closing lows. Favorable winter wheat crop conditions and forecasts for additional rain in the Plains through late March contributed to speculative selling pressure. CBOT May was 7 3/4 cents lower at $4.55 1/2. KCBT May was down 7 cents at $4.79 3/4 while MGE May fell 7 3/4 cents to close at $4.96 3/4.

Cattle futures closed mostly lower on Thursday. The market swung in a volatile trading range today. There are still a lot of speculative long positions that will provide ammunition for weakness. However, cash market fundamentals remain solidly positive. April fell 92 points to close at $99.05. June was down 67 points at $95.75. April feeder cattle closed 32 points higher at $107.20.

Lean hog futures closed mostly lower on Thursday, but a couple of months managed small gains. Fund selling tapered off after the big price declines on Wednesday and trading on Thursday was characterized by spreading. Additional weakness in cash prices coupled with April's premium to the settlement index combined to put some pressure on futures. April ended 35 cents lower at $65.88 and June was 25 cents higher at $75.90.