Corn futures are called steady to 1 cent higher. Overnight trade was steady to 1 1/4 cents higher. Choppy trade is expected to continue today. Fundamental news remains limited although weekly export sales that were delayed until this morning due to weather problems in Washington could provide some direction. Pre-report trade expectations range from 28-39 million bushels.



Soybean futures are called steady to 1 cent lower following overnight trade that ended that way. Some end of the week profit-taking is expected after the market rallied to new highs yesterday. Wet weather in Brazil could provide some support as harvest is being delayed and the rain could hurt soybean quality in some areas. Weekly export sales to be reported this morning are expected to be in the 17-26 million bushel range.



Wheat futures are called steady to mixed. Overnight CBOT trade was 3/4 of a cent lower to 3/4 higher and the KCBT was 1 1/4 to 1 3/4 cents lower. With little support expected from corn and soybeans, wheat trade is expected to be choppy. Technically, the market has been strong recently as support levels have held and prices have bounced from those levels. The market will be watching the weekly export sales report to see if demand has improved. Pre-report expectations range from 15-24 million bushels.



Cattle futures are called mixed on the open as traders wait for the cash market to develop. Gains will be limited by forecasts for improving weather in the Plains into next week. However, the strongly higher beef prices this week and expectations for higher cash trade will underpin futures. The market is strong both fundamentally and technically.



Lean hog futures are called steady to mixed. Some late week profit-taking is expected to limit gains although cash fundamentals remain positive. Light weights indicate that marketings are not being backed up and rising pork prices have helped improve packer margins. Pork cutouts were up $1.24 on Thursday.