Corn futures settled higher Friday. The market rallied from morning losses after the release of private acreage estimates that called for corn plantings to fall considerably next year. The bounce in the stock market also helped corn prices climb higher, as well as a drop in the dollar and dry conditions in Argentina. March was 22 cents higher at $3.73 1/2 and July was 22 1/2 cents higher at $3.95 1/4.



Soybean futures finished lower Friday. Prices followed the stock market lower on news that the bailout for the auto industry failed, but bounced back midday. The rally in corn helped soybeans improve, as well as bullish fundamentals in Thursday's USDA reports. The market was weighed down by estimates for large increases in acreage next year. January was 2 1/2 cents lower at $8.54 and March was 4 1/4 cents lower at $8.56 1/4.



Wheat futures closed mostly higher, with nearby contracts pressured. Weakness in outside markets and soybeans weighed on wheat early, as well as the increased ending stocks estimate in the December Supply/Demand report. The midday rally in corn carried wheat higher, with fund buying picking up. CBOT March was 5 1/2 cents higher at $5.13, KCBT March was 3 3/4 cents higher at $5.37 3/4 and MGE March was unchanged at $5.88 3/4.



Cattle futures finished lower Friday. Futures slipped in conjunction with lower cash prices following the failure of the financial bailout of the auto industry. The failed bailout sent the stock market lower, as well as crude oil. Concern that collapse of the auto industry would greatly increase unemployment and cut beef demand is plaguing the market. February was $1.03 lower at $82.80 and April was 73 cents lower at $84.95.



Lean hog futures settled lower Friday. Strength in the cash market helped boost nearby contracts. Spillover weakness from outside markets pressured futures, as well as weakness in cash hog prices. October exports were better than expected, up 25.4 percent over last year which helped limit losses. February was 10 cents lower at $62.28 and June was 8 cents lower at $77.53.