Corn futures are called 4 to 5 cents higher. Overnight trade at 6:30 am Ct was 4 3/4 to 5 1/4 cents higher. Commercial buying helped rally futures overnight following the recent profit-taking weakness. The market ha been able to shrug off strength in the dollar. The slower pace of corn exports remains a bearish concern, but the weekly export sales report will be delayed until Friday due to Veteran’s Day.

Soybean futures are called 8 to 9 cents higher. Overnight trade at 6:30 am CT was 8 1/2 to 9 cents higher. Strong export demand and USDA’s bullish crop production and ending stocks estimates earlier this week will be supportive. USDA reported more sales to China this week in daily reporting. The weekly export sales report will be delayed until Friday due to Veteran’s Day. Strength in crude oil and gold overnight are bullish factors, although strength in the dollar is bearish.

Wheat futures are called 5 to 8 cents higher. Overnight trade at 6:30 am CT was 5 to 5 1/2 cents higher at the CBOT, 8 1/4 cents higher at the KCBT and 10 1/4 cents higher at the MGE. Spillover support from other grains are expected to support wheat trade. There is the potential that weekly export sales will fall below the pace needed to reach USDA’s export forecast, but the report will be delayed until Friday due to Veteran’s Day.

Cattle futures are called steady to higher. Light cash trade developed in Kansas yesterday at near steady with the previous week at $97.50. Most feedlots appear to be holding out for steady or $1 higher bids. Packer margins remain decent, although boxed beef prices were lower yesterday with choice cuts down 92 cents. Gains in futures will be limited by the premium held to last week’s cash market and concern about beef prices.

Lean hog futures are called steady to mixed. Signs that hog weights may be at a seasonal peak and firm cash prices on Wednesday will be supportive. But the 50 cent decline in pork cutout values and futures premium to cash will limit gains. Several packers will short slaughter schedules today for Veterans’ Day, but will likely then increase Saturday’s slaughter.

Cotton futures are trading lower again this morning. Profit-taking from the rally to historic highs developed yesterday and was again weighing on futures overnight. At 6:30 am CT, December cotton was 44 points lower at 145.21 cents and March was 341 points lower at 137.70 cents.