Corn futures are called 5 to 6 cents higher. Overnight trade was 4 3/4 to 5 3/4 cents higher. The market is expected to open higher as traders gear up for the three day holiday weekend. Forecasts call for some rain to develop in the eastern Corn Belt this weekend and early next week, which will delay some planting progress even further. Outside markets will likely provide some support with Dow Jones futures and crude oil higher overnight while the dollar was lower.



Soybean futures are called 10 to 13 cents higher. Overnight trade was 8 1/2 to 13 1/2 cents higher. Projections for very tight soybeans stocks and strong export demand will continue to support the soybean market. Drier weather in the eastern Midwest this week has eased concern about corn acreage being switched to soybeans due to planting delays, which has helped new-crop months rally. Outside markets were supportive overnight as well.



Wheat futures are called 6 to 8 cents higher. Overnight CBOT trade was 3 1/2 to 6 3/4 cents higher and the KCBT was 8 1/4 cents higher. Spillover strength from soybeans and outside markets will support wheat trade. The decline in the dollar is supportive as it should help wheat exports. Technical strength and concern that spring wheat acreage will be switched to other crops or not planted at all due to wet conditions will be supportive. HRW harvest pressure is typical for this time of year, but not so far this year as dry conditions in Texas and freeze damage in Texas and Oklahoma has lowered production in early harvest areas.



Cattle futures are called steady to mixed. Cash trade developed yesterday at $85 in the South, steady with the previous week, and at mostly $137 dressed in the North, up $1. However, the $1.12 drop in Choice cutouts on Thursday will limit front end strength. Traders will also be evening positions ahead of the three day holiday weekend and the Cattle on Feed report that is due out this afternoon.



Lean hog futures are called steady to higher. Short-covering ahead of the three-day holiday weekend and the $1.67 increase in pork cutout values will support the market. However, the cash market has been on the decline and is expected to be lower again today as packer margins are poor and as they slow slaughter schedules around the Memorial Day holiday.