Corn futures are called 8 to 9 cents higher. Overnight trade was 8 1/2 to 9 1/4 cents higher. Strength in crude oil last night is expected to help corn extend the uptrend of the past 3 weeks. Meanwhile the dollar index traded sharply lower overnight. This should benefit corn exports, which have been sluggish recently.



Soybean futures are called 23 to 24 cents higher. Overnight trade was 17 1/2 to 23 3/4 cents higher. The market is technically strong after the sharp rally the past 3 weeks with some supportive fundamentals as well. Strength in Chinese soybean futures and Malaysian palm oil prices overnight will be supportive as will the sharp rally in crude oil and weakness in the dollar. Parts of southern Brazil and Argentina remain dry, although forecasts call for some needed rainfall in Argentina this week.



Wheat futures are called 15 to 16 cents higher. Overnight CBOT trade was 15 to 16 1/2 cents higher and the KCBT was 14 to 16 1/4 cents higher. Spillover support from corn and soybeans along with strength in crude oil will push futures higher. The decline in the dollar overnight will help make U.S. wheat more competitive on the world market. Futures are technically strong after rallying to six or seven week highs last Friday.



Cattle futures are called steady to higher. The futures market should rebound from the sell-off Friday. Cash markets are expected to be steady to firm this week as short-bought packers will need cattle. The disruption of trade with Mexico will remain a bearish factor, but weakness in the dollar should help move beef in other export markets.



Lean hog futures are called steady to higher. The market is expected to rebound some from the weakness last Friday, when news that Mexico was banning beef, pork and poultry from U.S. processors due to food safety issues pressured trade. While packer demand will remain light this week as slaughter schedules remain slow, packers may need to raise bids later this week to prepare for full slaughter schedules next week.