Corn futures were higher on Friday. Weakness in the dollar and strength in the stock market helped support corn prices. Weather forecasts remain the dominant market factor and the eastern Corn Belt is expected to get more rain again early next week, which will stall planting again. With the market closed on Monday, overnight trade Monday and Tuesday's trade could be volatile. July closed 6 1/4 cents higher at $4.30 1/4 and December was 6 1/2 cents higher at $4.52.



Soybean futures closed mixed on Friday. Profit-taking weighed on the front end contracts after rallying to 7 1/2 month highs earlier this week. Gains were trimmed in deferred, but new-crop months closed higher on forecasts for rain in the eastern half of the Corn Belt early next week that would further delay planting. The market is closed on Monday for Memorial Day, but weather developments will be influential for overnight trade Monday. July ended 9 cents lower at $11.66 while November was 8 cents higher at $10.31 1/2.



Wheat futures posted strong gains on Friday. Technical buying and weather concerns pushed prices higher. Planting delay concerns continue for the spring wheat crop and more wet weather in the forecast for the Midwest raised concern about disease in the SRW crop. Weakness in the dollar and a drought reduced crop in Argentina are bullish factors for wheat exports. CBOT July closed 19 cents higher at $6.12 1/2, KCBT July ended 13 1/4 cents higher at $6.60 1/2 and MGE July was 18 1/2 cents higher at $7.45.



Cattle futures closed steady to higher on Friday. Weakness in beef prices kept the June contract unchanged today. Choice cutouts were down 84 cents at midday. However, deferreds were higher on short-covering ahead of the Cattle on Feed report and the three day holiday weekend. June ended unchanged at $82.53 and August was 55 cents higher at $83.78.



Lean hog futures closed higher on Friday. Short-covering developed to push prices higher ahead of the extended holiday weekend. The $1.67 jump in pork cutouts yesterday was also supportive despite further weakness in the cash market. The U.S. government is working to lift trade restrictions that had been put in place because of the H1N1 flu virus. June traded 75 cents higher to $65.98 and August was 88 cents higher at $68.63.