Corn futures are called 1 to 2 cents higher. Overnight trade was 1 1/2 to 2 1/2 cents higher in most active contracts. The rally off of session lows late on Wednesday that pushed futures above technical resistance will be supportive. Fundamentally, the market will continue to watch acreage projections and early season planting weather. Weekly export sales to be released this morning are expected to be in the 32-39 million bushel range.



Soybean futures are called 3 to 4 cents higher. Overnight trade was 3 1/2 to 4 1/2 cents higher. Follow-through buying from the late session rally yesterday should be supportive on the open. Gains will be limited by bearish old-crop fundamentals as South American soybean supplies will soon begin to displace U.S. soybeans on the world market. Weekly export sales are expected to be 11-18 million bushels.



Wheat futures are called 3 to 4 cents higher. Overnight CBOT trade was 3 1/4 to 4 1/4 cents higher and the KCBT was 3 1/4 to 3 3/4 cents higher. The late recovery rally yesterday prevented major chart damage. Firm corn prices should also be supportive. However, buying interest will be limited by the favorable wheat outlook for the central and southern Plains. Pre-report estimates for the weekly export sales report range from 13-22 million bushels.



Cattle futures are called firm on the open. The losses on Wednesday are expected to establish a near-term bottom. Supportive fundamentals should help pull futures higher. The wholesale beef market continues to rally and seasonally stronger beef demand is expected. Light cash trade was noted in Nebraska at up $2 from last week.



Lean hog futures are called steady to higher. Ideas that yesterday's sell-off was overdone and steady to firm cash markets will be supportive. Packer demand remains strong and despite the large slaughter this week, pork cutouts were up 54 cents on Wednesday.