Corn futures rebounded from early weakness to close slightly higher Thursday. Rain is moving through Nebraska and Iowa sparking some concerns that planting delays may develop and attracting renewed buying interest from the commodity funds. May corn closed a half cent higher at $2.11 1/4.

Soybean futures were a few cents higher Thursday, boosted by a report from Statistics Canada showing an 8 percent decline in canola acreage intentions. Commodity fund buyers have returned to the soybean market this week, providing strong buying interest. May futures closed 7 cents higher at $6.37 3/4.

The wheat market traded in a narrow sideways range Thursday. News that Canadian spring wheat planting intentions are down 2 percent from last year provided support. Chicago May wheat was 1/4 cent higher at $3.11. KCBT May was up 2 cents at $3.28 1/4. MGE May wheat slipped 2 1/2 cents to close at $3.24 1/2.

Cattle futures were mixed on the close Thursday running into profit taking despite higher cash prices. Packers boosted bids to $94 in the southern Plains Thursday morning in response to recent gains in wholesale beef prices. The April contract closed 30 points higher at $91.40. June futures fell 7 points to close at $85.45.

Lean hog futures were lower on Thursday pressured by lower pork cutout values and poor packer margins. Cash bids were steady to weaker on Thursday so the large premium in the futures market attracted selling interest. May lean hogs were 27 points lower at $75.27 and June fell 90 points to close at $77.47.