Corn futures are called 10 to 11 cents higher. Overnight trade was 9 3/4 to 10 3/4 cents higher. Commodity markets are expected to get a boost from the sharp drop in the dollar yesterday after the futures market closed. The Federal Reserve announced plans to start large scale buying of government debt, which in turned tanked the value of the dollar. Weekly export sales are expected to be fairly neutral with pre-report trade estimates ranging from 20-32 million bushels.



Soybean futures are called 28 to 30 cents higher. Overnight trade was 28 to 29 3/4 cents higher. The sharp drop in the dollar right after the soybean market closed yesterday is expected to spark heavy non-commercial buying. The weekly export sales report due out this morning is expected to be bullish as well. Pre-report trade estimates range from 13-33 million bushels.



Wheat futures are called 14 to 15 cents higher. Overnight CBOT trade was 14 1/2 to 15 cents higher and the KCBT was 9 to 14 cents higher. The sharp drop in the dollar index on Wednesday after the market closed provided support overnight. Some short-covering on yesterday's weakness and ideas that U.S. wheat will become more competitive on the world market will be supportive. The market was strongly lower yesterday after Egypt passed on U.S. supplies on a recent export tender. Weekly export sales are expected to be in the 11-18 million bushel range.



Cattle futures are called steady to lower as traders wait for the cash market to develop. Strength in the cash market will be limited by poor packer margins and the $1.27 drop in choice beef cutouts on Wednesday. Cattle supplies are tightening, but beef supplies remain ample as slaughter weights are running at a high level.



Lean hog futures are called steady to lower. Pork cutouts were down 56 cents and cash bids are expected to be steady to lower again today as most packers have needs covered for the week. But losses should be limited by the improved packer margins and the outlook for tightening hog numbers over the next few weeks.