Corn futures settled lower on Friday. Weakness in crude oil and the stock market along with gains in the dollar index pressured corn futures. Other than the outside markets and some early concerns about cool and wet weather in the Corn Belt, there was little news to move the market ahead of the Prospective Plantings report due out next week. May closed 3 3/4 cents lower at $3.87 and December ended 3 1/2 cents lower at $4.32.



Soybean futures were strongly lower on Friday. News that the Chinese government will put some soybeans currently held in reserve back into the local market and ideas that the Argentina farmer strike could be halted by this weekend weighed heavily on prices. In addition, outside markets were weak and traders are looking for USDA to report a big increase in soybean acreage in the Prospective Plantings report due out on Tuesday. May closed 27 cents lower at $9.17 and November fell 19 3/4 cents lower at $8.60 3/4.



Wheat futures closed lower on Friday. Spillover pressure from soybeans and strength in the dollar were bearish factors for wheat. In addition, precipitation in the southern Plains and forecasts for more rainfall should help winter wheat conditions improve. CBOT May ended 7 1/4 cents lower at $5.07 1/4, KCBT May fell 10 cents to $5.50 and MGE May closed 5 cents lower at $6.07 3/4.



Cattle futures closed mostly lower on Friday. Short-covering supported prices early, but weak beef prices and spillover weakness from the financial markets pushed deferred contracts lower. Choice beef prices were down over $1 on Thursday and fell another $1.02 at midday today. Losses in the stock market and strength in the dollar were also bearish factors. April closed 5 cents higher at $84.33 while June ended 28 cents lower at $81.58.



Lean hog futures closed lower in nearly every contract on Friday. The premium of futures to the cash market led to late weakness ahead of the Quarterly Hogs and Pigs report released after the close. Weakness in the stock market also pressured prices. April closed 5 cents lower at $60.48 and June was 38 cents lower at $71.40.