Corn futures were 3 to 4 cents lower on Friday. Fund long liquidation weighed on prices today after some choppy trade earlier in the session. Traders were gearing up for the Supply/Demand report due out Monday morning when ending stocks are expected to be nudged slightly higher. March ended 4 cents lower at $3.68 1/2 and December '07 was 3 1/2 cents lower at $3.50 1/2.



Soybean futures were choppy most of the day but ended lower on Friday. A firmer crude oil and palm oil market furnished support to the soybean oil market early in the day. However, this was not enough to keep soybeans on the positive side as traders were preparing for Monday's Supply/Demand report. January ended 5 1/2 cents lower at $6.56 1/2 and March was 4 3/4 cents lower at $6.71 1/2.



Wheat futures ended lower on Friday. The market opened lower and traded that way throughout the session. Disappointed longs were throwing in the towel after recent technical weakness. Concerns that USDA may cut the export forecast in the Supply/Demand report Monday morning contributed to the selling pressure. CBOT Mar was down 10 cents at $4.85 3/4. KCBT Mar was 7 1/4 cents lower at $5.06 1/2 and MGE Mar fell 10 cents to $4.99.



Cattle futures closed higher on Friday. Packers nudged bids higher today to spark a short covering rally. Despite the higher close, futures finished in the lower portion of the daily trading range as anxiety about the limited cash market activity contributed to the setback from the morning highs. December was 30 points higher at $86.95 while February climbed 42 points to close at $89.72. January feeder cattle were 57 points higher at $100.42.



Lean hog futures closed with only small changes on Friday after trading on both sides of the market during the session. Prices started the day lower, rallied mid-session, and then fell back to near unchanged in light trading. The cash market was mostly steady today, giving futures little direction. February ended unchanged at $64.28 while June was up 13 cents to close at $73.68.