Corn futures are called 3 to 4 cents lower. Overnight trade was 3 1/4 to 4 cents lower. Some weakness in outside markets overnight including crude oil and profit-taking from recent gains are expected to weigh on the corn market. The recent rally has spurred an increase in cash movement and hedge activity. Weakness in the dollar index will help limit losses.



Soybean futures are called 7 to 8 cents lower. Overnight trade was 5 1/4 to 8 3/4 cents lower. The market remains fundamentally strong, but some weakness in outside markets and profit-taking are expected to weigh on futures. Strong export demand, particularly from China, and dry weather that is stressing soybean crop conditions in Argentina and southern Brazil will help limit losses.



Wheat futures are called 8 to 9 cents lower. Overnight CBOT trade was 7 3/4 to 8 1/2 cents lower and the KCBT was 9 1/2 to 12 3/4 cents lower. The market is expected to be pressured by light profit-taking weakness and spillover pressured from corn, soybeans and outside financial markets. Losses will be limited by recent export demand. Weakness in the dollar index overnight will also be a supportive factor.



Cattle futures are called steady to mixed. Choppy market action is expected as traders wait for the cash market to develop. Beef prices have moved higher recently, although cutouts were mixed on Tuesday. Cash trade is expected to be firm this week compared to the $86-$87 last week.



Lean hog futures are called higher on the open. Pork cutouts shot up $2.54 on Tuesday. Cash trade is expected to continue to move higher today as packer margins have improved. Technical strength and weakness in the dollar index overnight will also help push prices higher.