Corn futures ended on a weak note Friday. Futures set new contract lows early in the week, then posted small gains mid-week only to turn lower again today. There is little news to trade on and fundamentals remain bearish. March closed 3/4 of a cent lower at $1.97.



Soybean futures closed moderately lower to end the week. Profit-taking weighed on prices after the recent uptick. Gulf basis fell this morning due to improved barge traffic. Rumors of export demand to China have gone unconfirmed. March is 6 1/2 cents lower at $5.16 3/4.



Wheat futures were mostly higher Friday finding support from an uptick in export demand. Japan, Korea and Egypt all bought some U.S. wheat. Short covering was also a supportive factor. CBOT Mar was 1 cent higher at $2.95 3/4. KCBT Mar fell 1 1/2 cents to close at $3.33 1/4 while MGE Mar was 1 3/4 cents higher at $3.44 3/4.



Cattle futures were slightly lower on the close Friday ahead of the USDA Cattle on Feed report. The cash market remained quiet through mid-day Friday with the futures reflecting expectations for cattle to trade around $90 in the southern Plains Friday afternoon. February futures closed 25 points lower at $89.27.



Lean hog futures closed higher today. Gains were mostly a recovery from the unreasonable losses posted the day before. The recovery in futures came despite lower cash bids on Friday. February settled $1.53 higher to close at $75.88.