Corn futures closed lower on Friday amid a round of technical and fund based selling as traders were taking profits on Thursday's rally. Fundamental news was limited following the USDA supply/demand revisions yesterday. March futures settled 4 1/4 cents lower at $2.21 1/4. May futures closed 4 1/2 cents lower at $2.31 3/4.



Soybean futures settled lower on Friday. The fund support that had pushed the soybean market higher on Thursday fell off today and pulled the soybean market down with it. Weakness in other commodities such as gold and oil provided spillover pressure. March closed 5 1/2 cents lower at $5.82 1/4 and May was 5 3/4 cents lower at $5.96.



Wheat futures were lower on the close Friday. The market ran into a round of profit-taking. While losses appear technical, there are some forecasts calling for better chances of rain the Plains late next week. CBOT Mar was 8 cents lower at $3.55 1/4. KCBT Mar fell 3 3/4 cents to close at $4.30. MGE Mar was down 5 cents at $4.10.



Cattle futures ended higher on Friday. The market opened higher and held gains throughout the trading session. An uptick in wholesale beef prices along with strong beef movement contributed to ideas that the cash market has found a near term bottom. April climbed 45 points to close at $90.60 and June was 17 points higher at $84.65. March feeder cattle were up 80 points at $109.65.



Lean hog futures closed higher on Friday. Fund buying was encouraged by further gains in cash bids and the $1.90 jump in pork cutouts on Thursday. Tightening supplies are expected to support cash hogs next week as well. The April contract closed at $62.80, up 58 cents, and June hogs ended 63 cents higher at $70.10.