Corn futures are called steady to mixed. Overnight trade was 1/4 of a cent higher to 1/2 lower. Market action is expected to remain limited today ahead of the Grain Stocks and Prospective Plantings report due out on Thursday. The average pre-report acreage number is 82.3 million acres, up from 80.9 million last year.



Soybean futures are called 1 to 2 cents lower. Overnight trade was 1 to 3 cents lower. Traders are expected to even positions ahead of the USDA reports on Thursday. Trade estimates for acreage intentions stand at 73.5 million acres, down 1.7 million from last year.



Wheat futures are called steady to 1 cent lower. Overnight trade ended 1/2 to 1 cent lower. Improved winter wheat condition ratings are expected to weigh on futures. Spring wheat acreage intentions are expected to be nearly steady with last year at 13.8 million bushels.



Cattle futures are called steady to higher. Spillover buying and some positive fundamental news should be supportive. Showlists are smaller this week and traders look for boxed beef prices to improve. Cash trade is currently expected at steady to higher prices later this week.



Lean hog futures are called steady to mixed. Cash markets are called steady to lower as packers wait for signs of improved demand. That wasn't evident yesterday as pork cutouts were 4 cents lower. However, cutouts are generally high enough for packers to be making money.