Corn futures closed strongly lower on Friday. The sharp rally in the dollar and what is generally seen as unthreatening weather forecasts weighed on the market. Warmer temperatures will help speed the lagging crop maturity and the hot and dry weather pattern is not expected to become entrenched over the Corn Belt. September closed 10 1/2 cents lower at $3.22 and December ended 13 3/4 cents lower at $3.26 1/2.

Soybean futures ended higher on Friday. Tight old-crop stocks and solid underlying demand supported front end contracts. Outside markets offered mixed influence as the dollar was up strongly, but so was the stock market. Some weather premium was added to the new-crop as weather conditions do not look ideal for crop development, although the hot and dry weather pattern is not expected to become entrenched over the Midwest. September closed 11 cents higher at $10.90 1/2 and November was 8 1/2 cents higher at $10.38 1/2.



Wheat futures traded lower on Friday. Strength in the dollar, technical selling and spillover pressure from corn pushed the wheat market lower. CBOT and KCBT Sep futures both fell to a new contract low today. The USDA reports will influence the market next week. The average trade estimate for the wheat crop is about 2.150 billion bushels, up about 40 million from the July estimate. CBOT Sep closed 10 3/4 cents lower at $4.89 1/2, KCBT Sep was 8 3/4 cents lower at $5.25 1/4 and MGE Sep ended 6 cents lower at $5.73 1/4.



Cattle futures closed mixed on Friday. Short-covering developed ahead of the weekend to pull some contracts higher and limit losses in other months. Strength in the stock market was a supportive factor. Spillover pressure was again noted from the lean hog pit. October closed unchanged at $89.13 and December ended 23 cents lower at $88.68.



Lean hog futures were sharply lower in the 2009 contracts while 2010 months were higher on Friday. Weakness in the cash market, sliding pork cutout values and technical weakness kept front end contracts on the defensive. But deferreds turned higher on a short-covering rally from technically oversold levels. August ended $2.28 lower at $48.80 and October was $2.68 lower at $44.90.