The Midwest corn and soybean harvest picked up this week, and prospects for full bins sent grain and soybean futures lower Thursday.
On other major markets, energy futures were mixed, cattle futures were lower while pork futures advanced, and precious metals were mixed. The day was marked by extremely light trading on all markets as many traders stayed home to celebrate Rosh Hashana, the Jewish New Year.
Soybeans and soybean meal were substantially lower on the Chicago Board of Trade, led by commercial selling of the meal on prospects for a good harvest, said Mickey Luth, an analyst in Chicago with Shearson Lehman Bros.
Corn prices also were influenced by harvest pressure, while wheat made little movement in either direction, said Ted Mao, another Shearson Lehman analyst in New York.