Corn futures are expected to open higher this morning. The markets were closed on Wednesday in observance of Independence Day, but are scheduled to reopen at 9:30 a.m. CDT. Corn prices are expected to continue their upward climb as forecasts for excessive heat persist through the end of the week. New crop corn is currently in the pollination stage, where moisture and adequate rainfall are critical.

Soybean futures are expected to open higher this morning. The markets were closed on Wednesday in observance of Independence Day, but are scheduled to reopen at 9:30 a.m. CDT. As with corn, soybean futures are expected to open higher on weather worries. Weather forecasts over key production regions remain hot and dry into next week. The market will also be supported by overall bullish fundamentals.

Wheat futures are expected to open higher this morning. The markets were closed on Wednesday in observance of Independence Day, but are scheduled to reopen at 9:30 a.m. CDT. The uptrend trend displayed by wheat futures is mostly tied to rising prices in the corn market. Declining spring wheat ratings and concern over global wheat stocks are supporting prices as well but not to the extent of recent market gains.

Cattle futures are called to open lower this morning. The markets were closed on Wednesday in observance of Independence Day, but are scheduled to reopen at 9:30 a.m. CDT. Cattle futures are expected to open pit trade on the soft side this morning due to declining beef prices. Higher outside markets and anticipated steady trade in the cash market should lend support to prices, limiting losses.

Lean hog futures are called to open lower this morning. The markets were closed on Wednesday in observance of Independence Day, but are scheduled to reopen at 9:30 a.m. CDT. The market is expected to open under pressure due to soft demand for pork and declining cash prices. With packers procuring most of their slaughter needs before the mid week holiday, trade in the cash market is expected to be lower.

Cotton futures are trading lower this morning. The market was closed on Wednesday in observance of Independence Day, but resumed trading on its normal schedule this morning. Prices have declined as rains across northeastern China and India have helped to revive their cotton crops, increasing worry about global oversupply.