Corn futures are called 8 to 9 cents higher. Overnight trade was 8 3/4 to 9 cents higher. Spillover support from soybeans and some short-covering ahead of the 3-day weekend for traders (markets are closed Monday for MLK Jr. Day) will support the market. However, further gains should be limited by bearish fundamentals following this week's disappointing export sales report and the increased ending stocks estimate.



Soybean futures are called 14 to 15 cents higher. Overnight trade was 14 1/2 to 15 cents higher. Bullish fundamentals are expected to support the market. Export demand remains strong as China continues to be an aggressive buyer. Light rainfall is expected in Argentina this weekend, but next week is expected to warm and dry. This should keep stress on the crop and will continue to limit yield potential there.



Wheat futures are called 7 to 8 cents higher. Overnight CBOT trade was 8 to 8 1/2 cents higher and the KCBT was 7 cents higher. Spillover support from soybeans and weakness in the dollar index overnight should help push wheat futures higher. However, gains are expected to be limited by the sluggish pace of new U.S. export sales. Cold weather may have hurt some of the winter wheat crop in the Midwest, but damage will be hard to quantify until this spring.



Cattle futures are called steady to higher. Cash market fundamentals should provide support. Light cash trade developed yesterday in Nebraska at $135 dressed, up $1-$2 from last week. Cash trade should be around $85 live in the South this week, up mostly $1 from last week. Boxed beef prices continue to appreciate, with choice cutouts up another 85 cents on Thursday.



Lean hog futures are called steady to firm. Some short-covering ahead of the extended holiday weekend (markets are closed Monday for MLK Jr. Day) should provide some support. Cold weather has slowed marketings this week and kept cash bids steady to firm, but prices turned lower yesterday and will likely remain on the defensive into next week as temperatures moderate. Pork cutouts have been on the defensive, but did stabilize on Thursday, gaining 5 cents.