Corn futures ended lower on Friday in quiet pre-holiday trade. After the rally the past two weeks, and particularly the past few days, light profit taking set in and prices edged lower. Even so, futures were four cents higher for the week. December closed down 2 1/4 cents at $2.45 3/4. March settled 2 1/4 cents lower at $2.60 1/2.

Soybean futures closed lower on Friday. Good pod-filling weather and expectations of higher production estimates continue to weigh on the soybean market. Traders will begin to focus on private production estimates next week ahead of the USDA estimate due out September 12. November settled 4 1/4 cents lower at $5.15 1/2 and January was 4 1/2 cents lower at $5.64 3/4.



Wheat futures ended lower on Friday. Profit taking weighed on prices today after climbing strongly higher this week. Forecasts for weekend rainfall in the southern Plains contributed to the selling pressure. Despite the setback, market action during the last couple of weeks has turned strongly positive. CBOT Dec was 2 3/4 cents lower at $4.19 1/2. KCBT Dec fell 7 1/4 cents to close at $4.85. MGE Dec was down 2 3/4 cents at $4.70 1/2.



Cattle futures closed higher on Friday. The market hit new contract highs, finding strong support from higher cash prices. The cash market jumped $3 to $4 from last week, climbing solidly above the $90 benchmark for the first time since February. News that another supermarket chain in Japan was stocking U.S. beef provided fundamental support. October was 22 points higher at $93.35 while December climbed 40 points to close at $93.15.



Lean hog futures closed mostly higher in Friday's shortened trading session. Price direction was driven by short covering, fund buying and spreading. Trading was light as many folks took at least part of Friday off to extend the holiday weekend. October fell 35 cents and closed at $66.55. December was up 65 cents at $64.35.