Corn futures were higher on Thursday, rallying to new contract highs. The dollar continues to plunge and other outside markets like the metals were up sharply. That seemed to contribute to the gains in corn. Weekly export sales were viewed as positive as sales were at the high end of expectations at 40.2 million bushels. March settled 5 1/4 cents higher at $3.90 1/2.



Soybean futures ended higher on Thursday. Early support came from higher corn and wheat prices. In addition, weekly export sales of 27 million bushels were at the high end of expectations. The Census crush number of 161.6 million bushels was within expectations, but was an all-time record for October. January closed 3 1/4 cents higher at $6.85 1/2 and March was 4 1/4 cents higher at $7.00 1/4.



Wheat futures closed higher on Thursday. Month end short-covering and positive weekly export sales helped rally the market. Weekly export sales of 20 million bushels were up from only 13.3 million the previous week and were on the high side of market expectations. Modest price weakness in mid November apparently attracted improved buying interest. CBOT Mar was up 10 cents at $5.21 1/2. KCBT Mar was 8 3/4 cents higher at $5.50 1/4. MGE Mar was up 9 cents at $5.30.



Cattle futures were higher on the close Thursday. The market was able to post a solid rebound from the recent sell-off. Winter weather in the Plains provided fundamental support as a blast of cold air brought several inches of snow to the Texas Panhandle and southwestern Kansas. December was 50 points higher at $85.70 and February was up 70 points at $89.10. January feeder cattle slipped 7 points to close at $97.87.



Lean hog futures closed higher on Thursday. Short-covering by the funds and cold weather pushing into the Midwest offered support. Cash market fundamentals remain weak as pork cutout values are sliding due to large slaughter levels and sluggish demand. February closed 60 points higher at $65.30 and April was 68 cents higher at $68.25.