Corn futures are called steady to 1 cent lower. Overnight trade was 1/4 of a cent higher to 1/4 lower. Market action remains choppy and futures were in a sideways trend last week. Fundamentals are mostly negative with favorable early planting progress and large stocks.



Soybean futures are called 3 to 4 cents lower. Overnight trade was 2 3/4 to 5 1/2 cents lower. The market is searching for direction and it appears the path of least resistance this morning will be down. The lack of widespread early spring planting problems and slowing export demand should start the market on the defensive.



Wheat futures are called 2 to 3 cents lower. Overnight trade was 2 1/2 to 2 3/4 cents lower. Fund selling weighed on prices Friday, pushing the MGE to new lows and the CBOT and KCBT moving near their lows. Technically the market is weak and strong wheat condition rating will provide some fundamental pressure.



Cattle futures are called steady to mixed. Cash markets were firm last week at mostly $92, but trade may be choppy to start the week as cash prospects are measured this week. It would seem that packers would need to see some strength in cutouts before bidding steady or higher for cattle this week.



Lean hog futures are called steady to mixed. Packer margins are poor, which should encourage them to slow the pace of slaughter in an effort to push cutouts higher. This may lead to lower cash prices at least early this week.