Corn seemed to follow the other market higher Friday morning. Corn traders continue lacking for news at this point, so it was hardly surprising to see traders take their lead from strike-driven soybean and weather-driven wheat rallies. Conversely, that may open the door to late losses as traders square positions before the weekend. March corn futures rallied 5.0 cents to $3.85/bushel late Friday morning, while July added 5.25 to $4.0175.

The Brazilian situation continues supporting the soy complex. Brazil’s trucker strike over taxes and fuel costs has reportedly spread far and wide. The blockage of numerous roads is apparently keeping beans from flowing from farms to ports and fuel from moving the opposite direction. Their farmers don’t have the storage capacity to hold harvested beans, and have to worry that exposed legumes will prove vulnerable as their autumn approaches. March soybean futures climbed 8.25 cents to $10.3225/bushel just before lunchtime Friday, while March soyoil jumped 1.01 cents to 32.85 cents/pound, but March meal dipped $0.8 to $353.8/ton.

The Brazilian situation continues supporting the soy complex. Brazil’s trucker strike over taxes and fuel costs has reportedly spread far and wide. The blockage of numerous roads is apparently keeping beans from flowing from farms to ports and fuel from moving the opposite direction. Their farmers don’t have the storage capacity to hold harvested beans, and have to worry that exposed legumes will prove vulnerable as their autumn approaches. March soybean futures climbed 8.25 cents to $10.3225/bushel just before lunchtime Friday, while March soyoil jumped 1.01 cents to 32.85 cents/pound, but March meal dipped $0.8 to $353.8/ton.

Cattle futures set back from trendline resistance. Cattle futures had rallied strongly this week as beef prices surged. However, cutouts seemed to stall Thursday afternoon, which in turn robbed the CME market of upward momentum. The nearby April contract also appeared to fail at trendline resistance drawn across its January and mid-February highs. April cattle futures edged up 0.17 to 149.97 cents/pound shortly in late Friday morning trading, while August cattle slumped 0.72 cents to 141.07 cents/pound. Meanwhile, March feeder cattle futures advanced 0.20 cents to 200.50 cents/pound and May feeders tumbled 0.82 to 198.10.

Rebounding pork values triggered Friday’s CME hogs bounce. After surging sharply early this week, cash hog prices were called significantly lower this morning. Conversely, this week’s surprising pork breakdown seemed to end today. The wholesale weakness apparently undercut CME futures yesterday, so it wasn’t terribly surprising to see a bullish Chicago response this morning. April hog futures moved up 0.25 cents to 67.40 cents/pound as the lunch hour loomed Friday, while June hogs rose 0.15 to 82.77.