Corn futures are called 4 to 5 cents higher. Overnight trade was 4 to 5 1/2 cents higher. Strong speculative buying is expected this morning due to bullish momentum and spillover strength from other crop markets. The December contract could test strong technical resistance just above the market. Futures were able to shake off light commercial selling pressure on Thursday to close steady to slightly higher.



Soybean futures are called 7 to 8 cents higher. Overnight trade was 6 3/4 to 9 cents higher. The market is expected to open higher with positive technical momentum providing support. Soybeans are trying to keep up with corn and wheat to prevent losing acreage next spring. Fundamentals are mixed. Export demand is strong, but this year's crop and ending stocks are expected to be record large.



Wheat futures are called strongly higher. Overnight CBOT trade was 4 to 11 1/2 cents higher and the KCBT was 3 to 8 cents higher. Strength overnight indicates that the reversal lower earlier this week may be short-lived. Strong speculative buying is expected on the open. Tight global stocks of wheat remains an underlying supportive factor although demand for U.S. wheat remains sluggish.



Cattle futures are called steady to mixed. Some choppy trade is expected this morning as traders wait for cash business to develop. The market has already priced in a jump in cash this week. Light follow-through buying from yesterday's rally is expected to be countered by some profit-taking ahead of the weekend.



Lean hog futures are called steady to mixed. Some profit-taking is expected today following the sharp gains yesterday that pushed the December contract to a premium versus cash. Most deferred contracts posted new contract highs on Thursday. Packers continue to keep aggressive slaughter schedules, but pork cutouts have held up relatively well give the large supply of pork.