By: NATHAN STUEDLE
GRAIN MARKET SUMMARY
Grain futures finished solidly higher across the board Thursday, recovering from Wednesday's losses as traders positioned ahead of Friday's USDA Crop Production and WASDE reports.
December corn gained 6 cents to $5.33¾, with March also 6 cents higher at $5.49¼.
Soybeans were the strongest part of the grain complex. November beans jumped 22¾ cents to $13.32¼, while January gained 22 cents to $13.47¼. Soybean meal joined the rally, with December meal up $5.50 at $356.90 a ton.
Wheat also bounced sharply. December Chicago wheat gained 12½ cents to $7.41¼, while December Kansas City wheat added 12½ cents to $8.18¾.
So a strong rebound Thursday: corn up about six, wheat up around 12, and soybeans gaining better than 20 cents. Traders now turn their attention squarely toward Friday's USDA numbers, where corn and soybean yield estimates will be the major focus.
LIVESTOCK MARKET SUMMARY
Livestock futures were mixed Thursday, but cattle markets were decisively higher.
October live cattle rallied $1.97 to $217.82, while December gained $1.12 to $219.60. February cattle were 82 cents higher at $221.15.
Feeder cattle posted even stronger gains. September feeders jumped $2.87 to $332.57. October gained $1.72 to $327.55, and November feeders were $1.42 higher at $322.77. The entire feeder board finished higher.
Lean hogs were mixed to mostly lower. October managed a 7-cent gain to $83.15, but December fell 25 cents to $74.35, with most deferred contracts losing anywhere from roughly 7 to 35 cents.
So Thursday belonged to the cattle complex — live cattle rebounding strongly and feeders posting gains of better than a dollar across the board, including nearly three dollars in the September contract. Lean hogs, meanwhile, were mostly softer.