Corn futures are called 2 to 3 cents higher. Overnight trade at 6:30 am CT was 2 to 2 1/2 cents higher. Follow-through buying from yesterday's rally is expected this morning. Outside markets could provide support again as Dow Jones futures were higher overnight while the dollar index was lower. Export demand has picked up recently, with export shipments a marketing year high last week. While crop condition ratings remain strong and forecasts non-threatening, another spell of cooler than normal temperatures in the Corn Belt will keep crop maturity below normal.



Soybean futures are called 5 to 7 cents higher. Overnight trade at 6:30 am CT was 4 1/4 to 7 1/2 cents higher. Bullish old-crop fundamentals helped push prices strongly higher on Thursday and some follow-through buying is expected this morning. Old-crop stocks remain tight and demand from China continues to be strong. The rally in Dow Jones Industrial Average and weakness in the dollar has also encouraged some speculative buying. As with corn, forecasts for cool weather in the Midwest will be supportive as it will slow already lagging crop maturity.



Wheat futures are called 4 to 5 cents higher. Overnight trade at 6:30 am CT was 4 to 4 1/4 cents higher at the CBOT, 5 cents higher at the KCBT and 4 1/2 to 4 3/4 cents higher at the MGE. Spillover support from other grains and weakness in the dollar will be supportive factors this morning. Export demand has picked up recently with the drop in prices and weakness in the dollar, but ample supplies of wheat globally will keep competition for exports strong. Gains will be limited, especially at MGE, by the strong yield potential found in the Wheat Quality Council's spring wheat tour.



Cattle futures are called steady to mixed as traders wait for the cash market to develop. Current ideas are for generally steady business with the $83 last week. Some follow-through from the recovery rally on Thursday could provide the market support. But gains will be limited by weakness in boxed beef prices on Thursday.



Lean hog futures are called steady to mixed. The nearby contract remains technically weak following sharp losses again on Thursday. Cash markets are called lower again today and pork cutouts were down another 45 cents yesterday. However, some follow-through from the short-covering rally in deferred contracts could provide some light support.