Corn futures were lower on Thursday. Generally favorable growing conditions in the Corn Belt this week weighed on futures again today as traders mark time ahead of the Acreage and Stocks reports due out next Tuesday. Losses were limited by strength in crude oil and equity markets. July closed 4 cents lower at $3.82 1/2 and December was 5 3/4 cents lower at $4.01 1/2.



Soybean futures ended mixed on Thursday. Old-crop futures were supported by tight stocks and support from meal after strong weekly export sales were reported the morning. However, new-crop traded lower amid favorable growing conditions for most of the crop this week. July closed 11 cents higher at $11.96 while November was 6 cents lower at $10.02.



Wheat futures were lower on Thursday. The market was pressured by winter wheat harvest progress and ideas that warmer and drier weather will limit further disease problems in the SRW wheat belt. Weekly export sales and shipments remain sluggish, although commitments were at the high end of trade expectations. CBOT July ended 6 3/4 cents lower at $5.33, KCBT July was 6 3/4 cents lower at $5.90 3/4 and MGE July closed 14 1/2 cents lower at $6.78 1/2.



Cattle futures closed mixed on Thursday. Front end contracts were slightly higher as traders wait for further cash trade to develop. So far this week, light trade has been reported at $81, down $1 from the previous week. Boxed beef prices were about unchanged at midday, but there is concern that beef prices will decline seasonally once wholesale demand ahead of the July fourth holiday is filled. August was 8 cents higher at $82.55 and October was also 8 cents higher at $88.25.



Lean hog futures ended mostly lower on Thursday. Short-covering provided support this morning, but selling pushed prices lower ahead of the close. Further weakness in pork prices was a bearish factor. Pork cutouts were down $1.19 on Wednesday, hitting the lowest level in six years. July closed 23 cents lower at $57.08 and August was 3 cents lower at $58.80.