Corn futures closed higher on Friday. The market found support from fund buying and spillover from soybeans. Cash basis levels are mostly steady to firm although there is some basis pressure along the upper Illinois River where icing is causing delays and the lower Ohio where water levels are low. March settled 2 3/4 cents higher at $2.07 1/2. May ended 2 1/4 cents higher at $2.16 1/4.



Soybean futures settled higher on Friday. Pre-weekend short-covering and forecasts taking some of the rain out of the outlook for South America helped rally the market. The market is looking for direction after consolidation the early week gains. January closed 5 cents higher at $5.92 1/4 and March ended 4 1/2 cents higher at $6.02 1/2.



Wheat futures ended slightly higher on Friday. Gains were limited today but were solid for the week. Solid export demand and tightening old-crop wheat supplies have been able to underpin the market. CBOT Mar was up 1 cent at $3.19 3/4. KCBT Mar was 1 cent higher at $3.67 1/2. MGE Mar was 1/4 cent higher at $3.73 3/4.



Live cattle futures closed higher on Friday. December and February futures scored new highs while the spring and summer months are hovering just below the recent highs. This week's impressive cash market led futures higher as well as the first shipment of U.S. beef arriving in Japan. February climbed 87 points to $97.07. April closed 65 points higher at $94.70.



Lean hog futures closed mixed on Friday as profit taking at least partially offset the effects of weak cash prices. Activity was fairly light on Friday with some traders closing out positions ahead of the weekend. February ended 13 cents higher at $67.23. April was 25 cents higher at $69.13.