Corn futures are called steady to 1 cent higher. Overnight trade was 1/2 to 3/4 of a cent higher. We look for prices to bounce slightly off of recent losses. Weakness in the dollar should bode well for exports. Also, USDA pegged planting progress at 14% while trade expectations generally ranged from 15%-20%.



Soybean futures are called 4 to 5 cents higher. Overnight trade was 4 to 5 1/2 cents higher. With competition from South America's harvested crop increasing, weakness in the dollar could help demand for U.S. soybeans some. Fundamentals news remains light as USDA will has not started issuing planting progress for soybeans yet.



Wheat futures are called steady to 1 cent higher. Overnight trade was 1/4 to 1 1/4 cents higher. USDA lowered their winter wheat crop condition ratings from 70% to 69% good to excellent. Dry conditions in the southern Plains are still a problem. Despite the small decline, ratings remain strong compared to the 46% good to excellent at this time last year.



Cattle futures are expected to open higher. Boxed beef prices were $0.86 to $1.05 higher on Monday. This may give cattle owners ideas of at least steady cash trade again this week. Seasonal beef demand seems to be kicking in.



Lean hog futures are called steady to lower. Cash markets are called steady to lower as packer slow slaughter in an effort to regain some margin. Monday's slaughter was the smallest in quite some time and it did help cutouts increase 28 cents yesterday.