Corn futures are called 5 cents lower. Overnight trade at 6:45 am CT was 5 to 5 1/4 cents lower. The lack of supportive news and further outside market pressure is weighing on futures trade. Weakness in European stock markets is weighing on Dow Jones futures while pushing the dollar index higher. USDA raised its ending stocks estimate last week, adding further pressure on the market. Losses should be limited by ideas that recent weakness in futures prices should spur commercial buying interest.

Soybean futures are called 5 cents lower. Overnight trade at 6:45 am CT was 4 3/4 to 5 1/4 cents lower. Outside market pressure and the lack of supportive news are pressuring the futures market. Further concern about the euro-zone debt crisis is weighing on Dow Jones futures while the dollar index is being supported. USDA’s bearish supply/demand revisions last week is also a bearish factor. The ending stocks estimate was raised to 230 million bushels, up from 195 million the previous month.

Wheat futures are called 3 to 5 cents lower. Overnight trade at 6:45 am CT was 3 3/4 to 4 1/2 cents lower at the CBOT, 5 1/2 cents lower at the KCBT and 2 1/4 cents lower at the MGE. Strength in the dollar index overnight and spillover pressure from USDA bearish supply/demand revisions last week are weighing on futures contract. USDA raised its ending stocks estimate for the U.S. and world. USDA lowered its U.S. export forecast by 50 million bushels due to the recent lackluster demand.

Cattle futures are called lower on the open. Recent weakness in beef prices and ideas of lower cash trade ahead this week are expected to weigh on the futures market. Choice cutouts were down $1.31 and select cuts were $1.44 lower on Friday. Packer margins remain well in the red. However, packers are likely short-bought and current feedlots should help limit losses in the cash market this week.

Lean hog futures are called steady to higher. The cash market is expected to be steady to firm today. Pork cutouts were up 32 cents on Friday. Packer margins remain decent and pork exports continue to be strong. The value of pork exports in October was record high and up 41% from last year.

Cotton futures are trading lower this morning. Outside market pressure is weighing on the market. Further concerns about the euro-zone debt crisis are weighing on Dow Jones futures while supporting the dollar index. At 6:35 am CT March cotton was trading 43 points lower.