Corn futures are called 3 to 4 cents higher. Overnight trade was 3 to 3 3/4 cents higher. The market is expected to bounce back from weakness last Friday. Demand remains strong for corn for exports, ethanol, and feed. However, rally attempts could be limited in the near-term by increasing harvest activity over the next couple of weeks.



Soybean futures are called steady to 1 cent lower following overnight trade that ended that way. The market is expected to remain under pressure as fundamentals are bearish. Large old-crop stocks and favorable crop weather and condition ratings will weigh on the market. However, we look for some choppy trade this week as the market begins to gear up for USDA's production estimate due out September 12.



Wheat futures are called 4 to 5 cents higher. Overnight CBOT trade was 3 3/4 to 6 1/2 cents higher and the KCBT was 4 to 4 3/4 cents higher. After a round of profit-taking on Friday, futures are expected to rebound. Market action during the last couple of weeks has turned strongly positive and global supply/demand fundamentals are bullish.



Cattle futures are called steady to higher. The strong rally in cash prices in recent weeks should offer the market support. Cash trade was mostly $91-$92 last week, up $3-$4 from the previous week. Showlists are expected to be smaller this week. Traders will be watching weekend beef clearance numbers for direction.



Lean hog futures are called higher. Pork cutouts were up $1.84 on Friday and the improvement should encourage packers to bid at least steady for hogs this morning. With the improved margins, packers are expected to maintain aggressive slaughter schedules this week to help make up for Labor Day plant closures.