Corn futures closed lower on Friday. Strength in the dollar and profit-taking from Thursday's rally weighed on the market. However, crop concerns continue to underpin prices. Planting delays in the eastern Corn Belt will hurt yield potential and will push some acreage intended for corn to soybeans. July ended is 4 1/2 cents lower at $4.44 and December was 4 cents lower at $4.67 1/2.



Soybean futures were lower on Friday. After the strong rally on Thursday, traders took some profits amid the lack of fresh bullish news. Bearish news included strength in the dollar and the weekly export sales report on Thursday showing canceled sales by China. New-crop led the losses on concern about some acreage intended for corn being switched to soybeans. July was 4 1/2 cents lower at $12.25 1/2 and November ended 19 3/4 cents lower at $10.61 3/4.

Wheat futures settled lower on Friday. Profit-taking ahead of the weekend weighed on futures following the gains on Thursday. Strength in the dollar was also bearish as it is negative for the export market. Weather conditions are generally favorable for winter wheat harvest in the southern Plains and crop development further north. CBOT July ended 12 1/4 cents lower at $6.23, KCBT July closed 15 cents lower at $6.75 and MGE July was 16 1/4 cents lower at $7.45.



Cattle futures closed higher on Friday. The strength was attributed to short-covering ahead of the weekend. Fundamentals remain generally bearish as beef prices continue to decline. Choice cutouts were down another $1.79 as of midday Friday. The job loss data released this morning showed unemployment at the highest level since 1983, but it was not as bad as expected. June ended 13 cents higher at $80.15 and August was 15 cents higher at $81.15.



Lean hog futures ended mostly lower on Friday. Short-covering supported the market at times during the session, but the gains were unable to hold. Cash markets were steady to lower as supplies remain ample for packers. The $1.89 jump in pork cutouts on Thursday was unable to support the cash market or futures. July closed 50 cents lower at $60.08 and October was 15 cents lower at $61.08.