Corn futures are called 2 to 3 cents higher. Overnight trade was 1 1/2 to 2 3/4 cents higher. Spillover support from soybeans and firm outside markets overnight are expected to support the corn market. However, gains will be limited by improved planting conditions in the eastern Corn Belt this week due to the drier weather and forecasts call for mostly dry weather through the weekend.



Soybean futures are called 10 to 12 cents higher. Overnight trade was 5 1/2 to 13 1/2 cents higher. Bullish momentum is expected to continue to encourage fund buying this morning. Talk that old-crop ending stocks could fall well below USDA's most recent 130 million bushel estimate given the continued strong demand is fundamentally supportive. Outside markets were firm overnight with Dow Jones futures and crude oil higher. However, new-crop gains could be limited by the improved planting weather in the eastern Midwest so far this week and forecast for mostly dry weather through the weekend.



Wheat futures are called 3 to 4 cents higher. Overnight CBOT trade was 3 1/2 to 4 1/4 cents higher and the KCBT was 3 1/4 cents higher. Spillover support from soybeans and firm outside markets overnight will be supportive. Spring wheat planting delays remain a concern and will limit yield potential, although planting conditions in the northern Plains have improved this week. Gains will be limited by sluggish export demand and large stocks of wheat globally.



Cattle futures are called steady to mixed. Boxed beef prices were down slightly on Tuesday, but the cash market is still expected to be steady to up $1 this week compared to the $85 trade last week as showlists are smaller. Packers will need some supplies, although slaughter schedules next week will be smaller due to the Memorial Day holiday. Choppy trade is expected until the cash market develops and on positioning ahead of the Cattle on Feed report due out on Friday.



Lean hog futures are called lower on the open. Pork cutouts were down another $1.11 on Tuesday and cash prices were down nearly $2. Packers have lowered bids amid smaller demand this week as Memorial Day weekend orders have mostly been filled. However, losses could be limited by ideas of tightened hog supplies this summer and lighter slaughter weights as feed costs rise and producer profitability slips further into the red.