Corn futures are called steady to 1 cent higher. Overnight trade was 1/4 to 3/4 of a cent higher. Outside markets are expected to push prices slightly higher. After losses on Wednesday, the stock market futures were higher overnight. Crude oil and gold also traded higher while the dollar index was lower. Weekly export sales could influence trade. The past two weeks, sales have been marketing year highs. Pre-report trade estimates range from 22-39 million bushels.



Soybean futures are called 5 to 7 cents higher. Overnight trade was 4 1/2 to 7 1/2 cents higher. Spillover support from outside markets should provide some support to the soybean market this morning. While rainfall in Argentina and forecasts for more rain has eased concerns about the crop, drought has lowered yield potential. Export demand has been a supportive factor for soybeans and traders will be watching to see if that continues. The trade estimates for the report range from 15-26 million bushels.



Wheat futures are called 9 to 10 cents higher. Overnight CBOT trade was 8 3/4 to 10 cents higher and the KCBT was 3 3/4 to 10 3/4 cents higher. Strength in the dollar has been a bearish factor recently, but the index was lower overnight. Strength in other outside markets along with corn and soybeans should provide support. However, export sales have been sluggish recently and could limit gains. Trade expectations for the weekly export sales report ranges from 7-18 million bushels.



Cattle futures are called steady to mixed as traders wait for cash market news for direction. Showlists are smaller this week and packer margins remain positive. However, sluggish beef demand and narrowing margins will limit strength in the cash market. Choice beef prices were down 91 cents on Wednesday.



Lean hog futures are called steady to mixed. Cash markets are called steady to lower as packer margins remain poor. Several plants are slowing slaughter. Concerns about the economy and pork demand remain bearish factors. Pork cutouts have stabilized the past couple of days, but gains have been minimal. Short-covering could push futures higher with contracts at or near their lows.