Grains Mixed as Wheat Continues to Struggle

Grain markets saw mixed results on Thursday, with corn and soybean contracts posting modest gains while wheat futures remained under pressure. Corn prices closed 1 to 2 cents higher across most nearby contracts after traders found value in recent selling.

Soybeans also ended the session in positive territory, gaining 2 to nearly 6 cents due to bargain buying and continued optimism for export demand.

Wheat, however, was the clear downside leader, with Chicago soft red winter wheat falling 6 to 11 cents and Kansas City hard red winter wheat dropping 13 cents across nearby contracts. Expectations for abundant global wheat supplies and aggressive export competition continue to pressure the market.

The livestock complex also saw a difficult day on Thursday, with cattle and hog futures posting substantial losses due to broad selling pressure. Live cattle fell nearly $3.00 to more than $4.50 across nearby contracts, while feeder cattle dropped roughly $5.25 to nearly $7.50 as traders took profits following the market's recent run to record highs.