Grain and soybean futures were mixed in early trading today on the Chicago Board of Trade. Corn prices opened higher as rains continue to hamper planting and increases the likelihood of a reduced crop yield, said Victor Lespinasse, an analyst with Dean Witter Reynolds Inc. However, traders began to liquidate their positions for the weekend, and futures were moving lower. Soybean futures were steady to slightly lower as soggy fields delay the planting of the soybean crop. But the potential for increased soybean acreage as farmers switch from corn is weighing on prices. Wheat futures were higher on reports that disease is spreading through the soft red winter wheat crop in the southern Midwest, Lespinasse said. In early trading, wheat was a { cent to 1 cent higher with the contract for delivery in July at $3.35\ a bushel; corn was 1 cent lower to 3 cents higher with July at $2.87 a bushel; oats were } cent lower to 1 cent higher with July at $1.48{ a bushel; soybeans were a \ cent to 2 cents lower with July at $6.02{ a bushel. Livestock futures were mostly higher and pork futures lower in trading on the Chicago Mercantile Exchange. Cattle prices were higher on follow-through buying from Thursday's strong close and on active meat sales. Pork futures plunged on fund liquidation due to lower cash prices. Live cattle were .15 cent lower to .28 cent higher with June at 75.30 cents a pound; feeder cattle were .03 cent to .20 cent higher with August at 85.30 cents a pound; hogs were .27 cent to 1.02 cents lower with June at 63.80 cents a pound; frozen pork bellies were .55 cent lower to .03 cent higher with July at 66.85 cents a pound. Livestock and pork futures settled mixed in Thursday's trading.
