Corn futures are called 2 to 3 cents lower. Overnight trade was 1 3/4 to 3 cents lower. With the lack of support from soybeans, fund liquidation and mostly bearish fundamentals weighed on the market late last week and are expected to pressure prices this morning. Global stocks of feed grains are high and U.S. acreage is expected to grow this year.



Soybean futures are called 3 to 4 cents lower. Overnight trade was 2 1/2 to 4 cents lower. Last week's reversal has chart technicals looking negative. While a lower open is expected, we can't rule out more choppy trade as funds have been aggressive buyers on breaks recently. Export demand continue to be strong with China a strong customer.



Wheat futures are called 2 to 3 cents lower. Overnight trade was 1 3/4 to 3 1/2 cents lower. The market was pressured by overbought conditions on Friday and technically charts look a little bearish. However, wheat markets have seemed to take their direction from soybeans, so volatile trade is not out of the question this week.



Cattle futures are called steady to mixed. The Cattle on Feed report could offers some light support to the summer months due to smaller than expected placements. However, weaker boxed beef prices at $0.99 to $1.10 lower on Friday and cash uncertainty could weigh on the front end.



Lean hog futures are called steady to mixed. Some spillover selling from Friday is possible, but the 89 cent jump in cutouts and packers' need for inventory could support the nearby contract. On the other hand, slaughter schedules will likely be reduced this week ahead of Easter.