Corn futures recovered from early losses to close higher on Thursday. There was little new in the market. Rain in Argentina is mildly negative as is the spread of bird flu. However, the trade is expecting another round of strong weekly export sales to be released on Friday morning. March ended 1 1/2 cents higher at $2.23. May closed 1 1/4 cents higher at $2.33 3/4.



Soybean futures ended slightly lower on Thursday. Losses were limited today following the steep losses the past two sessions. The January Census crush came in slightly under traders' expectations at 151.5 million bushels. However, this is higher than last month and a year ago. March closed 2 1/4 cents lower at $5.71 3/4 and May was 1 3/4 cents lower at $5.84 3/4.



Wheat futures ended steady to higher on Thursday. The market traded in two-sided range but spent most of the day in the plus column after opening a couple cents lower. Dry weather in the Plains and forecasts for declining world wheat supplies provided support. CBOT Mar was 3/4 of a cent higher at $3.66 1/4. KCBT Mar climbed 2 1/2 cents to close at $4.34. MGE Mar was 2 1/2 cents higher at 4.15 3/4.



Cattle futures closed lower on Thursday. After a stronger opening failed to attract any upside follow through, futures ran into a wave of heavy technical selling prior to the close. Expectations for a bearish Cattle on Feed report pressured the market. April ended 72 points lower at $87.47. June fell 72 points to close at $82.72. March feeder cattle were down 95 points at $106.95.



Lean hog futures closed mixed on Thursday. It was a day of quiet trading with prices moving in a relatively narrow range. Weaker cash prices provided some pressure to the market, but by the end of the session most contracts had rallied. April closed 8 cents lower at $61.95 and June ended 18 cents higher at $70.30.