WHEAT – Down 2 to 4 cents per bushel
* Consolidation expected as some traders close out positions ahead of the weekend. Losses will be limited by weather problems in the U.S. Plains and Australia.
* Some light snow expected in the U.S. Southern Plains on Friday but dry conditions forecast for Saturday through Tuesday, adding further stress to the hard red winter wheat crop, particularly in the western areas.
* Cold, dry weather expected in soft red winter wheat growing areas of the U.S. Midwest during next two days but chance of light snow on Sunday. Soil moisture remains plentiful.
* Australia’s weather in key eastern and western crop regions is expected to be wetter than normal over the next three months – government forecaster.
CORN – Steady to up 2 cents per bushel
* Strong export demand, heat in Argentina supportive.
* Follow-through selling from Thursday’s drop and weakness in the
overnight session. Disappointing exports also weigh.