Corn futures closed mostly lower on Friday. The losses were blamed on end of the week consolidation and year-end positioning. Volume was thin in pre-holiday trade. However, new-crop futures were able to build on yesterday's strength. March ended 2 3/4 cents lower at $3.69 and December '07 was 2 3/4 cents higher at $3.61.



Soybean futures ended lower on Friday. There was very little to support the soybean complex today, so it continued to drift lower. Weaker cash markets and generally favorable weather in South America were underlying bearish factors today. January closed 5 1/4 cents lower at $6.57 1/2 and November was 5 1/4 cents lower at $7.14 3/4.



Wheat futures closed higher on Friday. A late short-covering rally pushed futures to a higher close. The market was on the defensive through most of the trading session pressured by forecasts for rain and snow in the central and southern Plains by the middle of next week. CBOT Mar was up 2 3/4 cents at $4.94 1/4. KCBT March was 1/4 of a cent higher at $5.09 3/4 and MGE March climbed 2 3/4 cents to close at $5.11.



Cattle futures were higher on the close Friday. The market remains entrenched in a sideways trading range that has prevailed since early November. Improving boxed beef cutouts values helped the market end on a positive note. December was 95 points higher at $86.40. February climbed 117 points to close at $89.50. January feeder cattle gained 132 points to close at $98.72.



Lean hog futures closed narrowly mixed on Friday in relatively quiet trading. Weakness in cash hogs continues to put some downward pressure on futures, but end of week short covering tended to offset the pressure. February closed unchanged at $62.25. June hogs closed up 3 cents, ending the week at $72.63.