Corn futures are called 1 to 2 cents higher. Overnight trade was 3/4 to 2 1/4 cents higher. After recent long liquidation weakness, funds turned to buyers on Tuesday. The market is expected to be higher again this morning after futures bounced off of support levels yesterday. Forecasts for more rain in the Midwest over the next few days will be supportive on the possibility of planting delays.



Soybean futures are called 3 to 4 cents higher. Overnight trade in most active contracts was 3 3/4 to 4 3/4 cents higher. Follow-through strength from yesterday's rally is expected to support prices this morning. Strength in corn and ideas of a large cut in soybean acreage this spring will help push soybeans higher. Gains will be limited by the current harvest of record large crops in South America.



Wheat futures are called 1 to 2 cents higher. Overnight CBOT trade was 1/2 to 1 1/4 cents higher and the KCBT was 1 3/4 cents higher. Strength in corn and follow-through buying from yesterday's technical bounce is expected to support prices this morning. Gains will be limited by forecasts for more beneficial rainfall in the Plains.



Cattle futures are called steady to mixed as traders wait on the cash market for direction. Light fundamental support will come from Choice beef prices turning 54 cents higher on Tuesday. However, ideas that cash cattle will trade $1 to $2 lower this week will limit buying interest in the nearby. Deferred contracts could find light technical buying from oversold levels.



Lean hog futures are called lower on the open. Cash markets are expected to be steady to mixed as some lower bids are likely as packers deal with declining margins. Pork cutout values were down 96 cents on Tuesday as pork supplies remain large.