Corn futures settled lower on Friday. The market was pressured by weakness in wheat along with technical selling in corn based on ideas the market is overbought and due for a setback. Weather forecast suggests that harvest progress, particularly in the east will remain sluggish into next week. December closed 3 1/4 cents lower at $3.12 3/4. March settled 1 1/4 cents lower at $3.24 3/4.



Soybean futures traded in a tight range on Friday, but closed a little lower. The market took a breather to consolidate recent gains. Soybeans have gained on corn and wheat to regain more of the traditional spread after moving to historically tight spreads over the past couple of weeks. November ended 1 1/2 cents lower at $6.06 1/2 and January was 2 1/4 cents lower at $6.20 1/4.



Wheat futures ended mixed on Friday. The market suffered through the first significant correction since the current strong uptrend started on September 15. Futures topped at new contract highs Tuesday morning and spent most of the remainder of the week on the defensive. Losses were steepest in Chicago, after that market had staged the largest gains on the recent rally. CBOT Dec closed 8 cents lower at $5.05, KCBT Dec was 1 cent higher at $5.31. MGE December wheat was 1/2 cent lower at $5.09 3/4.



Cattle future settled mixed on Friday. Front end futures were pressured by technical selling and ideas of a weaker cash market this week. However, late short-covering limited losses and pulled deferred contracts higher. Much of today's action was positioning ahead of this afternoon's Cattle on Feed report. October ended 20 cents lower at $87.68 and December was 13 cents lower at $87.08.



Lean hog futures closed higher on Friday. Gains were attributed to a short-covering rally after the weakness earlier this week. Cash fundamentals remain poor with hog supplies increasing seasonally and packer margins being squeezed by declining pork cutouts. December ended 68 cents higher at $59.35 and February closed 83 cents higher at $62.00.