Corn futures are called 5 to 7 cents higher. Overnight trade was 4 3/4 to 7 1/4 cents higher. Some light profit-taking was seen late last week, but overnight trade indicates prices are set to move higher again this morning. Bullish long term fundamentals will continue to provide support. Commercial and end user demand should provide support on any breaks.



Soybean futures are called 6 to 8 cents higher. Overnight trade was 6 1/4 to 8 1/2 cents higher. The soybean market continues to follow corn as traders keep next spring's acreage implications in mind. Speculative buying is expected again this morning despite the bearish supply/demand fundamentals. Demand remains strong, but this season's large crop is expected to push ending stocks to record levels.



Wheat futures are called 3 to 4 cents higher. Overnight CBOT trade was 1 1/2 to 4 1/4 cents higher and the KCBT was 4 1/4 to 5 cents higher. It appears the market will open higher today after fund liquidation pressured prices late last week. Speculative buying interest continues to be generated by the bullish global supply/demand situation and spillover from corn. However, sluggish demand for U.S. wheat could be a limiting factor.



Cattle futures are called steady to mixed. It appears that futures have established a near-term bottom. Cash markets have been moving lower the past couple of weeks, but there is hope that beef demand will improve this week as retailers begin to focus on post Thanksgiving beef features. Cash trade uncertainty and positioning ahead of the Cattle on Feed report due out on Friday should keep the market mixed.



Lean hog futures called steady to lower. Spillover selling and weak cash fundamentals are expected to weigh on the market. Demand for cash hogs has softened significantly recently and now packers are scaling back slaughter schedules until after Thanksgiving.