Corn futures are called 1 cent lower. Overnight trade was 3/4 to 1 1/2 cents lower. Technical resistance stopped the fund led rally yesterday. However, the market has been able to hold most of the recent gains and despite today's lower call remains technically positive. Weekly export sales are expected to be in the 24-32 million bushel range.



Soybean futures are called 1 to 2 cents lower. Overnight trade was 1 1/4 to 1 1/2 cents lower. Consolidation trade weighed on prices yesterday following the strong gains from early in the week. We look for light weakness on the open again unless weekly export sales are above expectations. Traders are looking for sales in the 18-26 million bushel range.



Wheat futures are called steady to 1 cent higher. Overnight trade was 1/4 of a cent lower to 1/2 higher. Despite weakness in corn and soybean yesterday, wheat markets pushed higher. Concern about winterkill from the recent cold snap and forecasts for cold weather next week remains a supportive fundamental factor. Weekly export sales could influence prices. Pre-report expectations range from 15-22 million bushels.



Cattle futures are called mixed on the open. Futures posted new highs yesterday and cash trade has been sharply higher this week. However, weakness late in the session could lead to some profit-taking.



Lean hog futures are called steady to lower. Cash markets are called steady to lower following yesterday's $2.24 drop in cutout values. The February contract is at a premium to the lean hog index, but ideas of better cash fundamentals after the holidays could limit losses.