Corn futures closed lower on Thursday after opening higher. Strong weekly export sales provided support this morning. Sales are running 35% above year-ago levels. However, the market turned lower on some profit-taking, but the losses also coincided with a reversal lower in crude oil prices. December closed 6 3/4 cents lower at $3.51 1/2. March settled 6 1/2 cents lower at $3.66.

Soybean futures ended lower on Thursday. Futures opened higher on spillover strength from corn and a bullish weekly export sales numbers. However, as corn prices turned lower soybeans followed with traders taking some profits from the recent runup. January ended 7 1/4 cents lower at $6.56 1/2 and March was 7 1/4 cents lower at $6.68 3/4.

Wheat futures ended lower on Thursday. The sharp losses can be attributed to lagging exports and a setback in the corn market. Disappointing weekly export sales provided the negative fundamental news to feed the selloff in futures. CBOT Mar was 13 1/2 cents lower at $4.89, KCBT Mar was 10 3/4 cents lower at $5.25 3/4, and MGE Mar was 10 cents lower at $5.06 1/2.

Cattle futures closed strongly higher on Thursday. Higher cash cattle provided strong fundamental support at mid session. Expectations for a positive Cattle on Feed report slated for Friday afternoon contributed to the aggressive buying interest. December was up 140 points at $88.12. February was 155 points higher at $90.75. January feeder cattle surged the 300 point limit to close at $98.20.

Lean hog futures closed higher on Thursday on what appears to be a technical bounce. The market had become oversold and short-covering supported futures today. Cash hog prices continued to work lower so it may be difficult to sustain any kind of futures price rally. December ended $1.10 higher at $62.05 and February closed $1.38 higher at $65.52.