Corn futures are called 4 to 5 cents higher. Overnight trade was 3 1/4 to 6 1/4 cents higher. The market is expected to build on the late session rally on Wednesday. Today is first notice day on the December contract, but deliveries notices of 1,361 are within expectations. Strong cash prices and solid carrying charges in futures should temper deliveries. Weekly export sales are expected to remain strong, with trade expectations ranging from 32-39 million bushels.



Soybean futures are called 4 to 5 cents higher. Overnight trade was 3 to 6 cents higher. Soybeans are expected to move higher due to spillover strength in corn. Soybean supplies remain large, but demand remains strong. This morning, weekly export sales are expected to be 15-29 million bushels and pre-report Census crush estimates are 161.4 million bushels, up 2.3% from a year-ago.



Wheat futures are called 2 to 4 cents higher. Overnight CBOT trade was steady to 4 1/2 cents higher and the KCBT was 3 1/4 to 5 3/4 cents higher. Deliveries against the CBOT Dec contract are below expectations at 1,872. Spillover strength from corn and speculative buying should offer some support. Single digit temperatures are forecast for the Plains. Snowfall should protect the HRW crop in the western Plains, but wheat in the central Plains is vulnerable to potential winterkill.



Cattle futures are called steady to lower. Follow-through selling is expected to weigh on the market. Declining boxed beef values and ideas that cash trade will be down $1-$2 from last week should keep futures on the defensive. However, a short-covering could develop that would limit losses or push prices slightly higher.



Lean hog futures are called mixed to lower. Cash bids are expected to be mostly steady today, but with most packer needs covered for the week there will be limited movement. Packers will be dealing with smaller margins following the $1.65 drop in pork cutouts on Wednesday.