Corn futures are called 6 to 7 cents lower. Overnight trade was 5 3/4 to 7 1/2 cents lower. The market is expected to be pressured by speculative profit-taking and technical selling again this morning. The market looks weak for the near-term, but uncertainty about weather and new-crop prospects will remain underlying supportive factors.



Soybean futures are called 6 to 7 cents lower with overnight trade closing that way in most active contracts. Fund selling weighed heavily on futures yesterday and is expected to push prices lower again this morning. Technical charts have turned more negative after futures fell below several chart support levels on Thursday.



Wheat futures are called 5 to 6 cents lower. Overnight CBOT trade was 4 3/4 to 6 1/2 cents lower and the KCBT was 5 1/2 to 6 1/4 cents lower. The market remains on edge about the risk of a global economic slowdown. Spillover pressure is expected from corn this morning, but wheat technical charts have not suffered any major damage yet.



Cattle futures are called steady to lower. Follow-through selling is expected on the open after the losses posted yesterday. Concern about a slower global economy has contributed to long liquidation. Cash trade has been very light so far this week, but firm trade is expected this week. Cash markets are expected to trend higher over the next couple of months.



Lean hog futures are called steady to mixed. The choppy open is expected as some follow-through selling from yesterday weakness is countered by short-covering. Cash markets are called mixed in light volume trade. Deferred contracts should find some support on ideas of tighter hog supplies in upcoming months.