Corn futures are called 5 to 6 cents higher. Overnight trade was 5 1/4 to 5 3/4 cents higher. The market is expected to rebound from yesterday's profit-taking weakness. The drop in the dollar index overnight will be a supportive factor as exports should benefit. However, the recent sluggish pace of exports will limit gains. Weekly export inspections reported Monday were below trade expectations and the pace needed to reach USDA's export forecast.

Soybean futures are called 10 to 11 cents higher. Overnight trade was 9 1/2 to 12 cents higher. Strong export demand and weakness in the dollar index will be supportive. China continues to be an aggressive buyer of U.S. soybeans. Dry weather in South America remains a concern for the crop in parts of Argentina and southern Brazil. Technically, the market is trending higher.

Wheat futures are called 2 to 3 cents higher. Overnight CBOT trade was 2 to 3 3/4 cents higher and the KCBT was 1 to 2 1/4 cents higher. Spillover support from corn and soybeans and weakness in the dollar index overnight will be supportive. End of the month and year positioning could provide light support as funds cover short positions. However, gains will be limited by the sluggish pace of exports. Weekly export inspections last week were only 3.5 million bushels, well below the pace needed to reach USDA's export projection.

Cattle futures are called steady to mixed. Light trade is expected ahead of New Years. The cash market has not yet developed, but larger showlists will be countered by short-bought packers. Boxed beef prices were mixed on Monday. Prices have eased from recent highs, but overall price action from early December remains positive.

Lean hog futures are called lower. Some positioning is expected ahead of the quarterly Hogs and Pigs report. However, the $1.54 drop in pork cutouts and weakness in the cash market will likely weigh on futures. But deferreds may find light support in ideas the report will show producers have reduced breeding hog inventory and cut back on sows farrowing.