Corn futures were mixed on Thursday. The market slipped to new contract lows, but once again there was little downside follow through. Weekly export sales fell to a marketing year low of only 13.3 million bushels. Sales need to be triple that level to sooth concern over lagging exports. March corn settled 1/4 of a cent lower at $1.95.

Soybean futures are trading lower today, slipping to new contract lows. Bigger than expected weekly export sales were initially supportive, but unable to break the downtrend. Concern that export demand will soon shift to Brazil was a negative factor. March is 3 1/4 cents lower at $5.02.

Wheat futures were mostly higher on the close finding support from a positive weekly Export Sales report. Export sales were nearly double the recent average. Also, the EU export subsidy was smaller than expected at just 14 cents per bushel. CBOT Mar was up 1 1/2 cents at $2.89 3/4. KCBT Mar gained 3/4 of a cent to close at $3.24 1/4. MGE Mar was down a 1/2 cent at $3.37 1/2.

Cattle futures were mostly higher on the close Thursday rebounding from early weakness to finish in the upper end of the daily trading range. Optimism about the outlook for firm cash prices turned futures higher after early weakness. February climbed 30 points to close at $91.

Lean hog futures closed higher on Thursday after a day of see-sawing back and forth. Ideas that packers will cut slaughter to boost sagging margins encouraged some buying because such a step could pull cash hog bids up. April hogs gained 8 cents to close at $73.20.