Corn futures ended solidly lower on Friday. Profit-taking from the rally on Thursday and generally favorable weather for the crop were bearish factors. In addition, the Cattle on Feed and Inventory reports are expected to show a shrinking cattle herd, which is negative for feed demand. September closed 10 3/4 cents lower at $3.16 1/4 and December was 11 1/2 cents lower at $3.27 1/4.



Soybean futures traded lower on Friday, led by new-crop months. Old-crop contract losses were limited by tight soybean stocks and continued demand from China. But new-crop futures were hit by profit-taking and generally favorable weather for crop development. Weather forecasts for the Midwest over the next couple of weeks call for seasonal to below normal temperatures with several chances of rain. August ended 2 1/2 cents lower at $10.21 and November was 17 cents lower at $9.15.



Wheat futures turned lower on Friday. Spillover weakness from corn and soybeans and profit-taking from the gains on Thursday weighed on futures. Sluggish export demand for U.S. wheat also is a bearish factor as global wheat supplies remain ample. Weather conditions in the northern Plains remain mostly favorable for the spring wheat crop. CBOT Sep closed 15 1/2 cents lower at $5.16 1/4, KCBT Sep ended 12 1/2 cents lower at $5.49 and MGE Sep fell 8 1/2 cents to $5.91 1/2.



Cattle futures closed lower on Friday. August and October fell to two-week lows in light volume trade. Spillover weakness from lean hog futures and the lower than expected cash trade this week pressured prices. Trade was light ahead of the USDA reports that were released after the close. August ended 50 cents lower at $84.53 and October was 35 cents lower at $89.75.



Lean hog futures settled strongly lower on Friday. Follow-through selling and weakness in pork cutouts on Thursday pressured prices. The market fell earlier this week on concern that pork prices were near a top after hitting a nine month high on Tuesday. The $1.58 drop in pork cutouts on Thursday gave credence to those ideas. August closed $1.90 lower at $59.05 and October was $1.83 lower at $54.58.