Corn futures closed lower on Thursday. Improved planting progress this week, losses in the stock market and crude oil and strength in the dollar were bearish factors for the corn market. Weekly export shipments last week fell about 10 million bushels below the pace needed to reach USDA's export forecast. July fell 2 cents to close at $4.24 and December was 1 3/4 cents lower at $4.45 1/2.

Soybean futures were higher on Thursday after a choppy trading session. Profit-taking initially weighed on the market, before bullish fundamentals pushed prices higher again despite the weakness in the stock market and crude oil. The weekly export sales report this morning was bullish. Commitments were above trade expectations and shipments last week were above the pace needed to reach USDA's export projection. July closed 6 cents higher at $11.75 and November was 9 cents higher at $10.23 1/2.

Wheat futures closed mostly lower on Thursday. Profit-taking pressured prices following the recent rally. Weakness in the stock market, strength in the dollar and large stocks of wheat globally were bearish factors. The weekly export sales report this morning was bearish as shipments last week were well below the pace needed to reach USDA's export forecast. However, the MGE turned higher on ideas of reduced spring wheat acreage due to planting delays. CBOT July was 4 1/4 cents lower at $5.93 1/2, KCBT July was 3 cents lower at $6.47, while MGE July was 1 cent higher at $7.26 1/2.

Cattle futures settled higher on Thursday. Short-covering helped the market rebound from initial losses despite the spillover weakness from the stock market and midday losses in boxed beef prices. Choice cutouts were down 80 cents. Gains can be partially attributed to positioning ahead of the Cattle on Feed report due out Friday afternoon, which is expected to show on-feed supplies at a four-year low. June closed 30 cents higher at $82.53 and August was 35 cents higher at $83.23.

Lean hog futures closed strongly lower on Thursday. Weakness in the cash market and pork cutout values led to long liquidation in the futures market. Cash markets were down $0.50 to $1.50 today and pork cutouts were down another $1.33 on Wednesday. Weakness in the stock market also helped extend the losses. June ended $1.25 lower at $65.23 and August was $1.20 lower at $67.75.