Corn futures ended lower on Friday. Spillover weakness from soybeans along with losses in crude oil and the stock market pressured prices today. Weather forecasts are neutral to bearish as warmer weather and forecasts for periodic rainfall should continue to benefit corn conditions. Losses were limited by uncertainty about how much acreage will be switched to other crops in the eastern Corn Belt. July closed 4 cents lower at $3.99 1/4 and December was 4 1/4 cents lower at $4.19 1/2.



Soybean futures closed strongly lower on Friday. A private forecast that showed soybean acreage at 78.9 million acres was viewed as bearish as it is well above the March planting intentions number of 76 million acres. Losses in the stock market and crude oil also extended losses. July ended 34 3/4 cents lower at $11.79 and November was 37 1/2 cents lower at $10.06.



Wheat futures were lower on Friday. Pre-weekend harvest pressure weighed on prices. Harvest activity is accelerating in the southern Plains, although rain in Kansas is expected to slow some activity. Sluggish export demand and ample world wheat supplies remain underlying bearish factors. CBOT July ended 5 cents lower at $5.55 1/4, KCBT July was 4 1/4 cents lower at $6.14 3/4 and MGE July ended 7 1/2 cents lower at $6.99.



Cattle futures closed mostly higher on Friday. Expectations for a bullish Cattle on Feed report after the close was supportive. Significant cash trade has not yet developed, but light trade was noted in the North at steady money with last week. Gains were limited by further weakness in boxed beef prices. Choice cutouts were down 69 cents at midday. June ended 15 cents higher at $80.93 and August was 43 cents higher at $82.13.



Lean hog futures closed sharply higher on Friday. Speculative buying and fund short-covering pushed prices sharply higher after several contracts fell to new lows earlier in the week. A steady tone in the cash market and the 71 cent rebound in pork cutouts on Thursday also contributed to the strength. July rallied $1.50 to close at $61.43 and August was $2.65 higher at $61.80.