Corn futures are called 3 to 4 cents higher. Overnight trade at 6:45 am CT was 3 3/4 to 4 1/2 cents higher. Renewed buying interest was triggered by weakness in the dollar index and strength in crude oil futures overnight. The euro-zone debt crisis yoyo continues and most recent news is for some hope for an agreement to deal with Greek debt. Concern about unrest in the Middle East is supporting crude oil. Otherwise traders will be positioning ahead of the USDA reports due out on Friday morning.

Soybean futures are called 5 to 6 cents higher. Overnight trade at 6:45 am CT was 5 to 5 3/4 cents higher. Outside markets and bullish momentum are supporting the market despite some concern that the soybean market is technically overbought. The euro-zone debt crisis yoyo continues and most recent news is for some hope for an agreement to deal with Greek debt. Concern about unrest in the Middle East is supporting crude oil. The weekly export sales report this morning is expected to be bullish for soybeans. Also, soybean production estimates for South America continue to decline. Otherwise, trade could be slow on position evening ahead of USDA’s Supply/Demand report due out Friday morning.

Wheat futures are called 7 to 8 cents higher. Overnight trade at 6:45 am CT was 6 3/4 to 8 cents higher at the CBOT, 7 cents higher at the KCBT and 4 cents higher at the MGE. Spillover support from other grains and weakness in the dollar index overnight are pushing wheat futures higher. The euro-zone debt crisis yoyo continues and most recent news is for some hope for an agreement to deal with Greek debt. Further gains will likely be limited by bearish global supply/demand fundamentals. Trade could also slow on positioning ahead of the USDA Supply/Demand report due out on Friday morning.

Cattle futures are called steady to mixed. Light cash trade developed yesterday at $126, steady to $1 lower than previously this week and down around $3 from last week. Boxed beef prices have been mixed this week. Light short-covering could provide some support following the strong losses earlier in the week.

Lean hog futures are called higher this morning. Follow-through buying and spillover strength from the gain in the cash market yesterday are expected to support the market. However, gains will be limited by continued concern over sluggish pork demand, although pork cutouts were up 57 cents on Wednesday.

Cotton futures are trading slightly higher this morning. Weakness in the dollar index is providing light support this morning as trader will be gearing up for the weekly export sales report his morning and the Supply/Demand report on Friday morning. At 6:45 am CT May futures were up 38 points and December was up 16 points.