Corn futures settled lower on Thursday. The market traded both sides today. Early support came from the weekly export sales report. USDA reported 2010/11 marketing year sales at 45.9 million bushels, which was sell above trade expectations. But futures turned lower on profit-taking from the recent rally to 30-month highs and on strength in the dollar. March closed 6 3/4 cents lower at $6.62 1/2 and December was 9 1/4 cents lower at $5.88 1/2.   


Soybean futures closed lower on Thursday. The bullish weekly export sales reported supported futures this morning. USDA reported sales of 37.9 million bushels of old-crop and 113.0 million bushels of new-crop, which were above trade expectations. China remains a large customer of U.S. soybeans. But futures turned lower on profit-taking and strength in the dollar index. March ended 8 1/2 cents lower at $14.35 1/2 and November was 9 1/2 cents lower at $13.65 1/2.


Wheat futures traded lower on Thursday. The market was pressured by profit-taking, disappointing weekly export sales and strength in the dollar. Weekly export sales of 19.6 million bushels were below trade expectations. Losses were limited by winterkill concern in the Plains. CBOT March was 4 cents lower at $8.59, KCBT March ended 3 3/4 cents lower at $9.49 and MGE March closed 11 3/4 cents lower at $9.98 1/2.


Cattle futures closed mixed on Thursday. The market was lower much of the day on the premium of futures to the most recent cash trade and concern that the cold and snow in the Midwest and Northeast has hurt beef demand. The market rallied late in the session on hedge lifting. Cash trade has been quiet so far this week, but steady to firm prices are expected compared to the $104-$105 trade last week. February ended 45 cents higher at $108.20 and April was 33 cents lower at $113.20.


Lean hog futures were mostly higher on Thursday. The February contract was pressured by ideas that backed up hog marketings will soon weigh on the cash market. But deferred contracts were supported by technical buying and ideas that strong export demand will help support pork prices. February closed 68 cents lower at $83.35 and April was 15 cents higher at $91.55.