Corn futures are called 4 to 5 cents lower. Overnight trade was 3 1/2 to 5 1/4 cents lower. Weakness in crude oil overnight and spillover pressure from soybeans are expected to weigh on the corn market. Disappointing weekly export sales last week will also be a bearish influence today.



Soybean futures are called 13 to 15 cents lower. Overnight trade was 11 to 15 cents lower. Bearish technical momentum and the sharp slowdown in exports indicated by the weekly export sales report yesterday will weigh on prices. Outside markets are expected to pressure prices as well. The Dow Jones Industrial Average has threatened chart support and crude oil was lower while the dollar index was higher overnight.



Wheat futures are called 3 to 4 cents lower. Overnight CBOT trade was 3 1/2 to 4 1/4 cents lower while the KCBT was 3/4 to 3 3/4 cents lower. Spillover pressure from corn and soybeans along with outside markets are expected to weigh on wheat futures. Weekly export sales were improved last week, but world wheat fundamentals remain bearish. Global wheat supplies are large and U.S. supplies have struggled to stay competitive in the export market. Strength in the dollar overnight will also be a bearish factor.



Cattle futures are called steady to mixed. Light cash trade developed in the North at $130 dressed, up $1-$2 from last week. Tightening supplies of market ready cattle should help support cash prices, but weak beef demand could limit gains. Boxed beef prices were lower again on Thursday, with Choice cutouts down $1.42.



Lean hog futures are called steady to higher. The cash market is expected to be quiet today, but producers may be able to get higher bids next week. Pork cutouts have been improving slightly the past few days, gaining 14 cents on Thursday. Packer margins have improved while hog supplies are expected to tighten.