Corn futures are called steady to 1 cent lower. Overnight trade was unchanged to 3/4 of a cent lower. A rally attempt overnight was thwarted by weakness in outside markets. Dow Jones futures were lower overnight while the dollar index traded higher. Weekly export sales due out ahead of the open could provide support. Sales have hit marketing year highs the past three weeks. Trade expectations are for strong sales again, with pre-report estimates ranging from 37-45 million bushels.



Soybean futures are called steady to mixed. Overnight trade ranged from 1/4 of a cent higher to 1 1/2 cents lower. Outside markets could weigh on futures today as the stock market is expected to open lower while the dollar index was higher overnight. However, the weekly export sales report due out this morning could provide be supportive. Pre-report trade estimates range from 20-28 million bushels. The market could also find support from weather forecasts calling for net drying in Argentina over the next week to ten days.



Wheat futures are called 1 to 2 cents lower. Overnight CBOT trade was 3/4 to 1 1/2 cents lower and the KCBT was 2 cents lower. Strength in the dollar index overnight is bearish for export demand. Export commitments have improved recently, so the weekly export sales report could provide some support. Trade estimates range from 11-18 million bushels. World wheat fundamentals remain a bearish factor as ending stocks estimates have increased recently due to lowered usage projections.



Cattle futures are called mixed on the open as traders wait for cash business to develop for direction. Firm cash trade last week has led to ideas that it will be firm again this week. Southern Plains trade last week was mostly $83. However, packer margins are tight and beef prices continue to struggle despite recent ideas that prices are bottoming. Choice cutouts were down 73 cents lower on Wednesday.



Lean hog futures are called higher on the open. Pork cutouts were able to move 86 cents higher yesterday, which should help continue the firm tone in the cash market. Packers have has to raise their bids this week to fill slaughter plans while hog producers have limited marketings waiting for further strength in the cash markets.