Corn futures are called steady to 1 cent higher. Overnight trade was 3/4 to 1 1/2 cents higher. Although pollination is nearly complete, the market will continue to watch the weather for direction. Forecasts call for heat across much of the Corn Belt into next week. Yield potential will be further trimmed in the western Corn Belt, but crop conditions in the central and eastern crop belt that have recently picked up rain should remain favorable.



Soybean futures are called 3 to 4 cents higher following overnight trade that ended that way. Weather forecasts call for stressful weather across much of the Midwest into next week. This should offer some support ahead of the weekend, but gains will likely be limited by recent rainfall in the central and eastern Midwest. Updated forecasts today could swing the market one way or the other.



Wheat futures are called steady to 1 cent higher. Overnight CBOT trade was 1/2 to 1 1/2 cents higher and the KCBT was 1/2 cent lower to 1 cent higher. Improved demand for U.S. wheat supported prices on Thursday and should carryover to today. Egypt has recently been in the market and India is tender for wheat. Declining Australian production estimates will also be supportive. However, gains will be limited in the near-term by some technical selling and the active spring wheat harvest.



Cattle futures are called steady to mixed as traders wait for cash trade for direction. Feedlots hope that smaller showlists and the premium in futures will help bring firm bids, but packers see declining beef prices and tightening margins. Choice cutouts were $1.88 lower on Thursday. We look for trade near steady with last week's $79-$79.50.



Lean hog futures are called steady to mixed. Cash markets are called steady to lower as packers have needs covered into next week. However, the futures market could find some support from the warm weather forecasts that will reduce weight gains and could disrupt marketings next week.




Corn futures are called steady to 1 cent higher. Overnight trade was 3/4 to 1 1/2 cents higher. Although pollination is nearly complete, the market will continue to watch the weather for direction. Forecasts call for heat across much of the Corn Belt into next week. Yield potential will be further trimmed in the western Corn Belt, but crop conditions in the central and eastern crop belt that have recently picked up rain should remain favorable.



Soybean futures are called 3 to 4 cents higher following overnight trade that ended that way. Weather forecasts call for stressful weather across much of the Midwest into next week. This should offer some support ahead of the weekend, but gains will likely be limited by recent rainfall in the central and eastern Midwest. Updated forecasts today could swing the market one way or the other.



Wheat futures are called steady to 1 cent higher. Overnight CBOT trade was 1/2 to 1 1/2 cents higher and the KCBT was 1/2 cent lower to 1 cent higher. Improved demand for U.S. wheat supported prices on Thursday and should carryover to today. Egypt has recently been in the market and India is tender for wheat. Declining Australian production estimates will also be supportive. However, gains will be limited in the near-term by some technical selling and the active spring wheat harvest.



Cattle futures are called steady to mixed as traders wait for cash trade for direction. Feedlots hope that smaller showlists and the premium in futures will help bring firm bids, but packers see declining beef prices and tightening margins. Choice cutouts were $1.88 lower on Thursday. We look for trade near steady with last week's $79-$79.50.



Lean hog futures are called steady to mixed. Cash markets are called steady to lower as packers have needs covered into next week. However, the futures market could find some support from the warm weather forecasts that will reduce weight gains and could disrupt marketings next week.