DES MOINES, Iowa (Agriculture.com)--With the general consensus being that tomorrow's government report will be bullish soybeans and bearish corn, the CME Group corn and soybean markets closed in that same fashion Thursday.

The May corn futures settled 3 1/4 cents lower at $6.35 1/4. The May soybean contract finished 11 3/4 cents higher at $13.38 1/2. The May wheat futures finished 4 1/2 cents lower at $6.34 3/4. The May soymeal futures settled $2.70 per short ton higher at $367.20. The May soyoil futures settled $0.41 higher at $53.39.
In the outside markets, the NYMEX crude oil is $0.62 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 88 points.

Tim Hannagan, PFGBest.com senior grain analyst, says the soybean market was underpinned by weekly export sales. "The very bullish weekly export sales report for soybeans over 1.0 mmt are carrying beans and leaving them selling corn as a spread," Hannagan says. Beans made two highs today off the report, but selling off each high occurred as traders take caution ahead of Friday's big report."