Corn futures are called steady to slightly lower. Overnight trade was steady to 1/4 of a cent lower. Futures drifted to new contract lows yesterday and buying interest will be limited by planting progress coming in above expectations at 52% complete. In addition, forecasts call for improved weather for planting and early season growth this week.



Soybean futures are called 2 to 3 cents higher. Overnight trade was 1 1/2 to 3 3/4 cents higher. Planting progress as of Sunday was at the low end of expectations at 8% and 1% behind the 5-year average. The further decline in private production estimates for Brazil is also bullish.



Wheat futures are called 1 to 2 cents higher. Overnight trade was 1/4 to 2 cents higher. Winter wheat condition ratings slipped to 63% good to excellent last week, down 5% from the previous week. However, some precipitation in the southern Plains and warmer weather the rest of the week should help conditions rebound some this week.



Cattle futures are called steady to mixed. Boxed beef prices continue to climb, but gains were only 15 to 45 cents yesterday. Packer margins are favorable, but with supplies of market ready cattle growing they may have the advantage in cash market negotiations.



Lean hog futures are called steady to mixed. Cash bids are expected to remain steady to firm as packers continue to need supplies and cutouts were 39 cents higher on Monday. However, liquidation in the June contract and some profit-taking from recent gains are expected to limit futures.