Corn futures are called 1 to 2 cents higher. Overnight trade was 3/4 to 2 1/4 cents higher. Light consolidation trade is expected ahead of the Supply/Demand report due out Friday morning. Strong demand and uncertainty about spring and summer weather will be underlying supportive factors. Weekly export sales to be released this morning are expected to be 28-35 million bushels.



Soybean futures are called 2 to 3 cents higher. Overnight trade was 2 1/2 to 3 cents higher in most active contracts. Light support is expected on the open in limited volume trade ahead of the Supply/Demand report. Commercial buying as well as strength in outside markets such gold and crude oil pushed prices higher on Wednesday. Weekly export sales are expected to be in the 9-22 million bushel range.



Wheat futures are called 1 to 2 cents higher. Overnight CBOT trade was 1 to 2 1/2 cents higher and the KCBT was 3/4 of a cent higher. Strength in corn and soybeans helped trigger a technical bounce from oversold levels yesterday. We look for light buying interest this morning, depending on weekly export sales. Demand for wheat has been improved the last few weeks. Pre-report trade estimates range from 11-24 million bushels.



Cattle futures are called higher on the open. Bullish momentum and supportive cash fundamentals are expected to push futures higher. Light cash trade has been noted at $95 this week and Choice boxed beef prices were $4.38 higher. However, with futures at contract highs, the market is vulnerable to some profit-taking.



Lean hog futures are called steady to higher on spillover support from cattle and expectations for steady to firm cash markets. Aggressive slaughter schedules this week and the 49 cent jump in pork cutout values should encourage some firm packer bids today.