Corn futures are called 2 to 3 cents higher. Overnight trade was 2 3/4 to 3 3/4 cents higher. After a small setback on Thursday, the market looks like it will work higher again today. Temperatures have moderated over much of the Corn Belt and some areas have picked up rain, but a return to warm weather is forecast for next week although with chances of rain. The market appears to be putting some premium back into prices ahead of the Crop Production report due out next week Friday.



Soybean futures are called 5 to 6 cents higher. Overnight trade was 5 to 6 1/2 cents higher. The market appears ready to continue in a sideways trend and firm trade today will push futures back toward the middle of the recent range. Forecasts show warmer temperatures next week, but with chances of rain. Traders appear to be putting some weather premium back into the market and will be gearing up for the USDA Production estimate due out a week from today.



Wheat futures are called 3 to 5 cents higher. Overnight trade was 5 to 6 1/2 cents higher. A late sell-off yesterday was attributed to technical selling. However, fundamental news is mostly supportive. Export sales were a marketing year high last week and India is tendering for wheat. Tightening world wheat stocks and expected spillover support from corn and soybeans should help wheat market open higher.



Cattle futures are called higher on the open. Fundamental support should come from firm cash trade on Thursday and higher beef prices. Cash trade was up $1-$2 from last week at $80-$80.50 live in the southern Plains and at $128 dressed in the north. Boxed beef prices were higher with Choice cuts up $0.47 and Select cuts up $1.59.



Lean hog futures are called lower. Cash prices have held firm this week, but ideas that backed up hogs will come to market today or next week and Thursday's $1.12 drop in pork cutouts will weigh on the market. We also look for some profit-taking on recent gains ahead of the weekend.