Corn futures are called 1 to 2 cents higher. Overnight trade was 1/4 of a cent to 2 cents higher. Light support is expected to come from planting delay concerns. However, gains will be limited ahead of the weekend as the market waits to see how weekend weather and forecasts for next week take shape. Strong export demand is a supportive factor. Weekly export sales were strong last week and the decline in the dollar this week should benefit export demand.



Soybean futures are called steady to 1 cent higher. Overnight trade was unchanged to 1 1/2 cents higher. Some consolidation trade is expected today following the strong gains this week. Underlying support will come from strong export demand and tight old-crop stocks. Firm soybean prices in China and higher Malaysian palm oil prices will be supportive. Wet conditions in much of the Midwest will limit soybean planting progress although planting has not fallen much below normal yet.



Wheat futures are called 5 to 6 cents higher. Overnight CBOT trade was 4 3/4 to 5 1/2 cents higher and the KCBT was 5 to 6 1/4 cents higher. Concern about spring wheat planting will continue to be supportive as cool and wet weather in the northern Plains will limit progress. Winter wheat weather remains mixed. In the HRW wheat belt, weather has been generally beneficial for the crop as wheat there tries to recover from the early April freeze. But wet weather and forecasts for more rain in the SRW belt will keep disease concerns alive.



Cattle futures are called steady to mixed as traders wait for the cash market to develop. Weakness in boxed beef prices and ideas that cash trade will be steady to lower this week will limit gains in the futures market. Choice cutouts were down $1.81 and select cuts were $1.47 lower. However, the discount of June futures to cash and some hope that seasonal demand will improve will help limit losses.



Lean hog futures are called steady to mixed. Deferred contracts stabilized yesterday and there is hope that front end contracts will do the same following the collapse this week brought on by the H1N1 virus - swine flu - outbreak. While the virus is not spread by pork, it has disrupted export markets. Gains may be limited continued flu concerns, but further losses ahead of the weekend don't look warranted.