Corn futures are called 4 to 5 cents higher. Overnight trade was 4 to 5 1/4 cents higher. The dollar index was down again overnight and crude oil was higher, both of which should provide support. Dollar weakness has been a key factor in the corn market's recover rally over the past two weeks. Fundamentally supportive news came yesterday with China announcing that they will buy another 5 million tonnes of domestic corn to support prices. Weekly export sales due out this morning are expected to be in the 18-32 million bushel range.



Soybean futures are called 6 to 8 cents higher. Overnight trade was 5 3/4 to 8 3/4 cents higher. Outside market strength is expected to support soybean trade. Crude oil was higher overnight and the dollar continued its decline. Pre-report trade estimates for the weekly export sales report range from 21-28 million bushels. Gains may be limited by weakness in the Chinese soybean market and Malaysian palm oil futures overnight.



Wheat futures are called 6 to 8 cents higher. Overnight CBOT trade was 6 to 8 cents higher and the KCBT was 7 3/4 cents higher. The strong downtrend in the dollar has been a supportive factor for wheat, and further weakness was seen overnight. This should help kick start additional export demand. The weekly export sales report due out this morning is only expected to be in the 7-17 million bushel range. Cold temperatures in the Plains are offering some fundamental support as light snowcover in areas has left the crop vulnerable to some winterkill.



Cattle futures are called higher on the open. Follow-through buying and optimism of firm cash trade this week will be supportive factors. Beef prices have moved higher recently, although choice cuts were 5 cents lower yesterday. Packers have slowed slaughter, but the rally in futures and beef should encourage some higher bids compared to the $85 last week. Some weather premium is also expected as winter storms hamper feedlot performance.



Lean hog futures are called steady to mixed. Cash markets are expected to be steady to lower as packer work to maintain margins amid sliding pork prices. Pork cutouts were down 65 cents on Wednesday. However, weakness in the dollar should provide deferred contracts support as pork exports should benefit.