Corn futures are called 9 to 10 cents higher. Overnight trade at 6:45 am CT was 9 3/4 to 10 cents higher. The market is recovering from the sell-off last week amid firm cash markets and light farmer selling despite the favorable harvest weather. Outside market are mostly supportive as European leaders work towards a plan to resolve the euro zone debt crisis. Gold and Dow Jones futures are trading higher overnight.

Soybean futures are called 14 to 15 cents higher. Overnight trade at 6:45 am CT was 14 1/4 to 14 1/2 cents higher. Futures are rebounding from the losses posted last week. The market is being supported by spillover strength in corn, ideas of improved export demand, slow farmer selling and firm cash markets and outside market strength. European leaders are working on a plan to resolve the euro zone debt crisis and financial markets and gold are higher overnight. In addition, China’s economic news was positive with their manufacturing sector picking up in October after three months of contraction.

Wheat futures are called 10 to 15 cents higher. Overnight trade at 6:45 am CT was 10 1/4 to 10 3/4 cents higher at the CBOT, 12 3/4 to 13 3/4 cents higher at the KCBT and 10 3/4 to 15 cents higher at the MGE. Spillover support from corn and some optimism that European leaders will settle on a plan to resolve the euro zone debt crisis are pushing futures higher. However, gains could be limited today by bearish global supply and demand fundamentals and ideas that export demand is sluggish. USDA will release a new weekly export inspections report this morning. Shipments need to be above 17 million bushels to stay on pace with USDA’s export projection.

Cattle futures are called lower on the open. Poor packer margins and the $1.45 decline in choice beef prices will weigh on the4 futures market. The Cattle on Feed report released last Friday was slightly bearish. Cattle on Feed numbers were up 5% and September placements were unchanged from last year, both coming in above trade expectations.

Lean hog futures were steady to mixed. Cash markets were weak on Friday, but pork cutouts were up 28 cents. Cash trade is expected to be steady to lower, but could turn higher again if pork cutouts can improve. Strong export demand has helped support pork prices despite increased pork supplies. Gains in futures will be limited by Friday’s Cold Storage report showing more than expected pork in storage, up 11% from last month and 16% above year-ago.

Cotton futures are trading higher this morning. Some outside market strength is helping push prices higher. Futures were able to rally on Friday from 14 month lows earlier last week. Some optimism that European leaders will resolve the euro zone debt crisis is helping to support the market. At 6:35 am CT, December cotton is trading 70 points higher.