Corn futures settled lower on Thursday. Weather remains the main market factor and recent rain in the Corn Belt and moderating temperatures pressured prices. Futures held within yesterday's trading range, as traders mark time ahead of next week's USDA Production Report. September ended 2 1/4 cents lower at $2.45. December settled 2 1/4 cents lower at $2.62.

Soybean futures ended lower on Thursday. Despite the weather forecast for a return to hot, dry conditions in most of the Midwest next week, traders looked at the rain and cooler temperatures in the Midwest to push prices lower. A private production estimate ahead of the USDA's number next week also came in above USDA most recent number. September ended 5 3/4 cents lower at $5.81 1/2 and November was 5 3/4 cents lower at $5.95 1/2.

Wheat futures closed mixed on Thursday. Futures sold off sharply in late trading to finish mixed after spending most of the day in the plus column. There was no news to spark the late selloff. Instead, the setback appears largely technical, reflective of a weary bull market. CBOT Sep was 6 1/4 cents lower at $3.95 1/4, KCBT Sep ended 3/4 of a cent lower at $4.84 1/2. MGE Sep was up 3 cents at $4.76.

Cattle futures were mixed on the close Thursday. Futures traded in a volatile range, staging a strong late rally before commercial selling dropped the August contract to a slightly lower close. News that one packer had boosted bids to $127 on a dressed basis in Nebraska, up from $126, contributed to the short covering. August was 5 cents lower at $82.87 while October was up 37 points at $87.95.

Lean hog futures closed lower on Thursday despite higher cash bids again today. Futures traders clearly doubt that cash prices can hold up as cooler weather spreads through the region allowing hog sales to increase. August ended 38 cents lower at $69.00 and October was 93 cents lower at $60.80.