Corn futures are called 1 to 2 cents lower. Overnight trade was 1 3/4 to 2 1/2 cents lower. Spillover weakness from soybeans and the lack of fund buying interest are expected to weigh on the market. Fundamentally, the improved chances of rain in Argentina are bearish.



Soybean futures are called 9 to 10 cents lower. Overnight trade was 10 1/4 to 10 3/4 cents lower. Overnight weakness was attributed to forecasts showing better chances of rain in dry areas of Argentina. With futures closing right at support levels on Friday, initial weakness overnight triggered additional technical selling.



Wheat futures are called 3 to 4 cents lower. Overnight trade closed 3 1/4 to 4 1/2 cents lower. Spillover weakness from the fund led sell-off on Friday is expected to weigh on the market today. Global competition for export sales is a bearish factor. Technically oversold conditions and dry conditions in the southern Plains are expected to help limit losses.



Cattle futures are called steady to mixed. Choppy futures trade is likely until cash prospects become clearer. Cattle numbers are believed to be on the rise and packer margins are struggling. However, packers are believed to be shortbought, which may help hold prices near steady this week.



Lean hog futures are called steady to higher. Spillover buying from the short-covering rally on Friday is expected on the open. Cash markets are called steady to higher, but declining packer margins may limit any improvement in cash bids this week.