Corn futures are called 2 to 3 cents lower. Overnight trade was 1 3/4 to 2 3/4 cents lower. The market is expected to be pressured by outside market weakness. Crude oil was lower while the dollar was higher overnight. Forecasts for warmer weather next week will be beneficial for the corn crop as some areas have struggled with the cooler than normal temperatures that has limited emergence and early season growth.



Soybean futures are called 2 to 3 cents lower in front end contracts. Overnight trade was 2 cents lower in the July and 7 1/4 cents lower in the November contract. Some light profit-taking is expected this morning following the rally to nine month highs in the July contract this week. The weakness in crude oil and strength in the dollar overnight will also weigh on futures. However, tight ending stocks projections remain a bullish factor for soybean even through China has canceled old-crop sales the past two weeks.



Wheat futures are called 6 to 8 cents lower. Overnight CBOT trade was 6 3/4 to 10 1/4 cents lower and the KCBT was 5 1/2 to 6 cents lower. Strength in the dollar and spillover weakness from corn and soybeans are expected to weigh on wheat trade. Sluggish wheat export demand and ample world wheat stocks will provide some fundamental pressure. Winter wheat will also be dealing with expanding harvest pressure.



Cattle futures are called steady to mixed as traders continue to wait for the cash market to develop. Tighter showlists in some areas may help feedlots get steady money with last week at $82, but steady to $1 trade is likely. Boxed beef prices continue to slide, with choice cutouts down another $1.15 on Thursday.



Lean hog futures are called steady to higher. Some additional short-covering is expected today as futures remain technically oversold. Cash markets are called steady to firm as some packers need to book some hogs. However, poor margins will limit their willingness to raise bids despite the 93 cents jump in pork cutouts on Thursday.