Corn futures were higher on Thursday, rallying to a two week high. Futures are rebounding from recent losses ahead of the USDA reports. The average trade estimate for Prospective Plantings is 80.6 million and March 1 stocks are expected to come in at 6.99 billion bushels. May futures closed 3 1/2 cents higher at $2.27 3/4. December ended 3 1/4 cents higher at $2.60.



Soybeans futures closed higher on Thursday. The funds were active buyers as strength in the metal and energy markets helped buoy crop markets. Gains were limited ahead of the USDA reports. Trade expectations for planting intentions are right around 74 million bushels. May closed 5 1/4 cents higher at $5.87 3/4 and November ended up 5 1/4 cents at $6.15 1/2.



Wheat futures were higher on the close Thursday. Most of the primary winter wheat area has gotten little or no rain from the current weather system. The winter wheat condition report due out Monday afternoon should lend the market support. CBOT May was up 2 3/4 cents at $3.44 1/2. KCBT May was 4 1/4 cents higher to close at $4.10 3/4 and MGE May gained 2 1/2 cents to close at $3.98 1/4.



Cattle futures ended higher on Thursday. The market was able to rebound from the recent skid that had dropped futures to new contract lows for six consecutive trading days. Anticipation of stronger beef demand as retailers begin booking post-Easter features provided fundamental support. April cattle were up 37 points at $81.00. June climbed 115 points to close at $75.90. April feeder cattle were 105 points higher at $104.25.



Lean hog futures closed higher on Thursday as traders evened positions ahead of Friday's Hogs and Pigs report. Cash hog prices were mostly steady today, which also took some of the pressure off of futures prices. April ended 63 cents higher at $58.13 and June closed up 60 cents at $66.75.