Corn futures were lower today. A stronger dollar and weakness in the broad commodity indices were seen as a negative factors weighing on the market. However, a late comeback rally in wheat and soybeans helped limit losses. May settled 2 cents lower at 2.23 1/2.



Soybean futures traded sharply lower during the session today but closed only slightly lower and well above the lows. A wave of profit-taking following the recent rally weighed on prices, but a late fund buying rally limited losses. May ended 2 cents lower at $6.71 1/2.



Wheat futures rebounded to a higher close in late trading Thursday after trading lower through most of the day. The market absorbed a round of profit-taking and closed higher, renewing a bullish technical picture on the charts. CBOT May was up 5 1/2 cents at $3.66 1/2. KCBT May gained 2 3/4 cents to close at $3.66 1/4. MGE May was up 1 1/2 cents at $3.69 3/4.



Cattle futures were lower on Thursday pressured by a decline in boxed beef cutout values and a lack of cash market activity. Boxed beef cutout values turned lower Thursday morning sparking ideas that wholesale beef prices have topped. April futures finished 120 points lower at $88.47.



Lean hog futures closed mostly lower on Thursday after choppy trading for most of the day. The lower prices on Thursday were partly attributed to profit taking from Wednesday's big gains. April fell 70 cents to close at $70.58.