Corn futures are called 7 to 8 cents higher. Overnight trade was 6 1/2 to 8 1/4 cents higher. The market is expected to find support in outside markets. The stock market was higher on Wednesday and Dow Jones futures posted good gains overnight. Crude oil was also up over $2 overnight while the dollar index was lower. Fundamentally, forecasts calling for more rainfall in the Midwest this weekend are supportive as spring fieldwork could be slowed further. Weekly export sales due out this morning are expected to be 28-39 million bushels.



Soybean futures are called 20 to 23 cents higher. Overnight trade was 17 1/2 to 23 cents higher. The futures market turned higher again overnight after closing mostly unchanged on Wednesday. The smaller than expected planting intentions number and outside markets will be supportive. Further strength is expected in the stock market today and crude oil was up strongly overnight. Weekly export sales are due out this morning and trade estimates range from 13-23 million bushels.



Wheat futures are called 8 to 9 cents higher. Overnight CBOT trade was 7 3/4 cents higher and the KCBT was 8 1/2 to 9 1/4 cents higher. Spillover support is expected from corn and soybeans as well as outside markets. Cold and wet weather in the northern Plains is supportive for the MGE as fieldwork and spring wheat plantings delays are likely. But ample old-crop wheat supplies and weekly export sales could limit gains. Trade expectations for export sales last week range from 9-17 million bushels.



Cattle futures are called steady to higher. Packers are short-bought, which could promote some steady to firm cash trade today. While packer margins remain poor, the $1.14 jump in Choice cutouts on Wednesday will help. Expected seasonal improvement in beef demand and tight cattle supplies should support front end futures and deferreds will benefit from an expected rally in the stock market today.



Lean hog futures are called lower. The $1.69 drop in pork cutouts on Wednesday and technical selling are expected to pressure futures. Packer margins are poor, although tight hog supplies should limit weakness in the cash market. Losses in the deferred contracts will be limited by outside market strength as the stock market is expected to open higher while the dollar index was lower overnight.