Corn futures are called 5 to 6 cents lower. Overnight trade at 6:45 am CT was 5 1/4 to 5 1/2 cents lower. Technical selling and outside market pressure weighed on the market overnight. Another round of European debt concerns are weighing on Dow Jones futures and crude oil overnight. Global economic problems could reduce corn demand. However, losses will be limited by yield and production concerns as analysts lower expectations.

Soybean futures are called 17 to 18 cents lower. Overnight trade at 6:45 am CT was 17 3/4 to 18 cents lower. After posting new highs early last week, futures have pulled back. Outside market pressure overnight is weighing on the market. European debt concerns resurfaced over the weekend, pressured Dow Jones futures and crude oil. Crop condition ratings are likely to be lower in the Crop Progress report this afternoon due to hot and dry weather last week. However, some weekend rain and cooler temperatures could benefit the crop this week.

Wheat futures are called 7 to 10 cents lower. Overnight trade at 6:45 am CT was 9 to 10 1/4 cents lower at the CBOT, 8 cents lower at the KCBT and 6 3/4 to 7 1/4 cents lower at the MGE. Sluggish export demand, weakness in the dollar and spillover pressure from corn and soybeans are weighing on futures. Outside markets are bearish as concerns about European debt are weighing on the stock market. Losses are expected to limited by tight supplies of high protein wheat following the shortfalls in spring wheat production. Continued drought in the southern Plains remains a concern for HRW seeding and emergence this fall.

Cattle futures are called steady to mixed. Optimism for strong retail beef sales for the Labor Day weekend and steady cash trade last week will be supportive. However, declining boxed beef prices and tighter packer margins could limit cash trade this week. Outside markets could pressure prices some as Dow Jones futures were lower overnight as European debt concerns have resurfaced.

Lean hog futures are called steady to lower. Cash fundamentals remains bearish as pork cutouts were $.75 lower on Friday and cash markets were nearly $2 lower on a national average. Hog supplies and slaughter weights are projected to be increasing. However, losses could be limited by short-covering from recent weakness.

Cotton futures are trading lower this morning. Outside market pressure is weighing on commodities. Dow Jones futures are lower as concerns about European debt have resurfaced. At 6:35 am CT December cotton was 61 points lower at 105.28 cents.