Corn futures are called 2 to 4 cents higher. Overnight trade was 2 1/2 to 4 1/2 cents higher. The market remains in a uptrend as strong demand projections and ideas that USDA will lower their production estimate this week is expected to provide support. Some profit-taking and big acreage ideas for next spring weighed on futures late last week.



Soybean futures are called 2 to 3 cents higher. Overnight trade was steady to 3 1/4 cents higher. Rising corn prices are expected to provide support as soybeans need to keep pace as crops bid for acreage next spring. Demand for soybeans remains strong and harvest is wrapping up in much of the Midwest except for some spots in the eastern Corn Belt.



Wheat futures are called 5 to 7 cents higher. Overnight CBOT trade was 5 1/2 to 7 cents higher and the KCBT was 5 to 6 1/4 cents higher. The tight global supply/demand balance will continue to provide underlying support. USDA will update S/D tables on Thursday. We look for some choppy trade ahead of the report, but futures are vulnerable to speculative long liquidation. U.S. wheat export sales have been relatively sluggish so far this marketing year.



Cattle futures are called lower on the open. Technical weakness and ideas of lower cash trade this week are expected to weigh on futures. The December contract slipped below chart support on Friday, falling to the lowest level since June. Weakness in the boxed beef market is expected to keep cash bids on the defensive.



Lean hog futures are called steady to lower. Cash markets are called steady today as supplies are relatively tight, but there is concern that demand will slow this week as retailers begin to focus on Thanksgiving features. The December contract was unable to hold contract highs last week, which could prompt some technical selling.