Corn futures ended lower on Friday. The market was consolidating this week's rally to 10-year highs. Futures declined despite a smaller than expected private acreage estimate and a very strong weekly export sales report. March ended 5 1/2 cents lower at $4.06 3/4 and December was 3/4 of a cent lower at $3.90 3/4.



Soybean futures ended slightly higher on Friday, but held in a relatively tight trading range. The most supportive feature in the market was an export report from USDA that showed over 40 million bushels were sold last week. The market is also concerned about losing too many acres to corn this spring. March ended 1 1/2 cents higher at $7.17 3/4 and November was 1 3/4 cents higher at $7.69 1/4.

Wheat futures closed lower on Friday. Spillover weakness from corn and more beneficial precipitation in the southern Plains weighed on futures today. The market failed to find support from the stronger than expected weekly export sales report at 30.3 million bushels. CBOT Mar was 4 cents lower at $4.67, KCBT Mar was 5 3/4 cents lower at $4.89 1/4, and MGE Mar was 3 1/2 cents lower at $4.98.



Cattle futures posted strong losses on Friday, led by weakness in the nearby. Cattle traded steady at $140 dressed in Nebraska before packers lowered bids. A slow-down in cattle slaughter and lower beef prices kept packers from raising bids. February fell $1.35 to close at $91.05. The April contract was down 48 points at $93.08. January feeder cattle were 28 points lower at $95.00.



Lean hog futures closed narrowly mixed on Friday in uneventful trading. Cash hog prices were mostly steady to higher, but futures trade was directionless. Packer margins have declined recently, but remain positive. February closed down 23 cents at $61.58. June hogs ended down 30 cents at $74.83.