Corn futures are called 6 to 7 cents higher. Overnight trade was 5 3/4 to 7 1/2 cents higher. Speculative fund buying and continued concern about dry crop conditions in Argentina and parts of Brazil are supportive factors. However, losses in crude oil overnight are expected to limit gains. Acreage implications for this spring will be a market factor as corn and soybeans jockey for area.



Soybean futures are called mixed. Overnight trade for old-crop months were 3/4 to 1 3/4 cents lower while the new-crop Nov contract was 4 1/2 cents higher. South American weather will remain a major market factor. Some areas of Argentina missed weekend rains and forecasts call for warm and dry weather this week. However, several key soybean areas in Brazil have gotten rain. Weakness in crude oil overnight and expectations for a lower stock market this morning will be bearish factors.



Wheat futures are called steady 2 cents lower. Overnight CBOT trade was 1/4 to 1 cent lower and the KCBT was 2 cents lower. Sharp gains in the dollar index and losses in crude oil will be bearish factors this morning. U.S. wheat is already having a hard time competing export demand on the world market. Light profit-taking following the gains on Friday is also expected.



Cattle futures are called steady to higher. Boxed beef prices have been strengthening, which may encourage packers to increase slaughter this week. Packers are short-bought with limited cash business in the south last week. This should help cash trade be firm if beef prices can hold up.



Lean hog futures are called steady to mixed. Cash trade is expected to be mostly steady to lower as packer margins remain tight. But cash market losses should be limited by packers needing supplies to fill slaughter needs this week. Strength in the dollar will be a bearish factor as it will discourage pork exports.