Corn futures are called 9 to 10 cents lower. Overnight trade at 6:45 am CT was 9 1/2 to 10 1/4 cents lower. Outside market pressure is weighing on the futures market. Renewed concern about the debt problems in the European Union has led to strength in the dollar while crude oil was solidly lower overnight. Recent improvement in export demand and some weather concerns should help limit losses. The warm weekend over the Midwest has raised some concern about crop yields. However, forecasts so not show a hot, dry weather pattern getting locked into place over the Corn Belt at this time.

Soybean futures are called 6 to 7 cents lower. Overnight trade at 6:45 am CT was 6 1/4 to 7 cents lower. The market is being pressured by strength in the dollar amid renewed concern about European debt. In addition, crude oil was lower overnight. The hot temperatures over the weekend have raised some concern about crop production and yield potential. However, forecasts currently do not show a hot, dry weather pattern locking in over the Midwest. Positioning ahead of the Supply/Demand report due out Tuesday morning should help limit losses.

Wheat futures are called 15 to 20 cents lower. Overnight trade at 6:45 am CT was 15 1/2 to 17 cents lower at the CBOT, 16 1/2 to 18 1/4 cents lower at the KCBT and 18 3/4 to 20 cents lower at the MGE. Increased export competition and concern that strength in the U.S. dollar index overnight will further hurt U.S. wheat export sales are weighing on the market. Russian wheat export sales are taking export business away from the U.S. after lifting their ban on grain exports as of July 1. Positioning ahead of the Supply/Demand report due out Tuesday morning could limit trade volume today.

Cattle futures are called steady to higher. Strength in the cash market last week will provide support. Cash trade in the southern Plains was up $2-$3 on a live basis and trade was $5-$6 higher on a dressed basis in the North. Technical strength and bullish momentum will also be supportive. However, gains could be limited by tightening packer margins and concern about beef demand.

Lean hog futures are called steady to mixed. The cash market has turned weak and steady to lower bids are expected this morning. However, pork cutouts were up 56 cents on Friday and there is optimism for strong export demand. The premium of the cash market to futures could provide some support, but strength in the U.S. dollar index could pressure futures on ideas that it could limit the improvement in pork exports.