Corn futures are called 1 to 2 cents higher. Overnight trade was 3/4 to 2 cents higher. The market was able to hold above technical resistance yesterday as light fund buying developed late in the session. Gains are expected to be limited by generally bearish fundamentals.



Soybean futures are called 6 to 7 cents higher. Overnight trade was 5 to 7 3/4 cents higher. The solid close yesterday after trading lower most of the session is expected to fuel some technical buying. Fundamental news remains light. Some areas in Argentina are on the dry side, but there are no significant problems yet.



Wheat futures are called 1 to 2 cents higher. Overnight trade was 1/2 to 1 1/2 cents higher. Futures have been unable to push through technical resistance and were slightly lower on ideas of being overbought yesterday. However, the CBOT should find support from short-covering by the funds and HRW crop problems remain a bullish underlying factor for the KCBT.



Cattle futures called lower. Packers lowered bids yesterday and it looks like the cash market has topped. Boxed beef prices were lower on Wednesday with Choice cuts declining $3.21. Spillover selling and ideas of a bearish Cattle on Feed report on Friday are also bearish factors.

Lean hog futures are called steady to mixed. Trade activity is expected to be fairly light ahead of the holidays. Cash markets are called mostly steady although packer margins took a hit with the 94 cent drop in cutouts yesterday.