Corn futures are called 5 to 6 cents lower. Overnight trade was 5 1/4 to 5 3/4 cents lower. Outside markets are expected to pressure prices this morning. Dow Jones futures and crude oil were strongly overnight while the dollar index was higher. However, losses are expected to be limited ahead of the Crop Progress report due out this afternoon which is expected to show significant area in the eastern Corn Belt that has still not been planted.



Soybean futures are called 1 to 2 cents lower for old-crop and 7 to 8 cents lower for new-crop. Overnight trade was 1/2 to 2 1/2 cents lower for old-crop while new-crop November was 7 3/4 cents lower. Outside markets are expected to pressure prices this morning. The dollar was strongly higher overnight while Dow Jones futures and crude oil were lower. Soybean planting is expected to continue to lag normal in the Crop Progress report due out this afternoon. On the other hand, corn planting delays in the eastern Midwest will likely shift significant acreage from corn to soybeans.



Wheat futures are called 8 to 10 cents lower. Overnight CBOT trade was 7 1/4 to 8 1/2 cents lower and the KCBT was 10 to 12 1/4 cents lower. Spillover pressure from corn, soybeans and outside markets are expected to weigh on wheat futures. Strength in the dollar is negative for exports, which have already been sluggish. Weekly export inspections this morning will cover the first week of the new marketing year. Last week, only 10.2 million bushels were shipped while the average pace needed in the 2009/10 marketing year to reach USDA's 980 million bushel estimate is nearly 19 million bushels.



Cattle futures are called steady to lower. Cash fundamentals remain bearish as showlists are expected to be larger this week while beef prices continue to slide. Choice cutouts were down $1.87 on Friday. Deferreds are also expected to be pressured by calls for lower corn prices and ideas of weakness in the stock market this morning.



Lean hog futures are called steady to lower. Cash markets continue to erode and pork cutout values fell $1.02 on Friday. So despite seasonally tightening hog numbers, cash markets and pork prices are declining due to sluggish demand. Weakness in corn and Dow Jones futures overnight will also be bearish factors.