Corn futures are called 1 to 2 cents higher. Overnight trade was 3/4 to 2 1/2 cents higher. The bullish U.S. production and ending stocks estimate will continue to be supportive. The global ending stocks to use ratio is only 12% of annual use, the lowest in 30 plus years. Gains are expected to be limited by overbought momentum indictors and the expected increase in farmer selling on the recent rally. Weekly export sales due out this morning are expected to be in the 32-39 million bushel range.



Soybean futures are called 1 to 2 cents higher. Overnight trade was 3/4 to 1 1/2 cents higher. Technical buying is expected on the open. USDA estimates on Thursday were slightly supportive when compared with pre-report expectations, although fundamentals remain generally bearish. Production and ending stocks this crop year are expected to be record large. Weekly export sales to be released this morning are expected to be in the 26-33 million bushel range.



Wheat futures are called 2 to 3 cents higher. Overnight CBOT trade was 3/4 to 4 1/2 cents higher and the KCBT was 1 to 3 1/4 cents higher. The market is expected to be in consolidation mode this morning following recent volatility. USDA raised their export estimate to 925 million bushels for the current market year due to tightening global stocks. The market will be watching for export commitments to pick up from the disappointing pace so far this marketing year. Weekly export sales are expected to be in a range from 11-31 million bushels.



Cattle futures are called steady to mixed. Active cash trade this week at $88-$88.50 along with firming boxed beef prices have provided the futures market some support. Packers have announced plans to reduce slaughter, which could keep the cash market on the defensive next week. However, tightening supplies of market ready cattle should limit any losses.



Lean hog futures are called higher. Spillover buying and the December contract's discount to the CME lean hog index should be supportive as the October contract expires at noon today. Cash markets are called mostly steady as a few plants are still in need of hogs for Saturday's slaughter.