Corn futures are called steady to 1 cent lower. Overnight trade was 1/2 to 1 1/4 cents lower. Early planting progress has been good and although rain will temporarily slow progress this week, forecasts look favorable later this week. Strength in the dollar and sluggish export demand are also bearish factors this morning.



Soybean futures are called 3 to 4 cents lower. Overnight trade was 3 1/2 to 4 1/2 cents lower. Trade volume has been light and markets mixed recently. We look for that to continue today. Rain has slowed fieldwork, but so far forecasts to not indicate lengthy planting delays the next couple of weeks.



Wheat futures are called steady to 1 cent lower. Overnight trade was 1/2 to 1 1/2 cents lower. Strong crop condition ratings and sluggish export demand will remain bearish factors. However, we would not be surprised to see some choppy trade following the KCBT's higher close on Tuesday.



Cattle futures are called steady to mixed. Some spillover buying may be seen on the open on ideas of $90 cash trade this week. However, weakness in beef prices and profit-taking could limit futures. Boxed beef prices were $0.24 to $1.23 lower on Tuesday.



Lean hog futures are called steady to higher. Despite a strong slaughter pace, pork cutouts were 68 cents higher on Tuesday. Firm pork prices should encourage packers to pay steady to firm prices for hogs again today.