Corn futures are called 7 to 9 cents higher. Overnight trade was 5 3/4 to 9 1/2 cents higher. Bullish fundamentals are expected to trigger speculative buying this morning. Export restrictions in Argentina and China should help keep demand for U.S. corn strong. Basis levels are firming as farmer selling remains light.

Soybean futures are called 13 to 15 cents higher. Overnight trade was 11 to 15 3/4 cents higher. Strength in corn is expected to spillover into the soybean pit. Rising palm oil prices will also provide some support for the soy complex. Generally bearish U.S. supply/demand fundamentals are expected to remain in the background.

Wheat futures are called 10 to 12 cents higher. Overnight CBOT trade was 9 to 12 1/4 cents higher and the KCBT was 5 1/2 to 11 1/4 cents higher. Spillover support from corn is expected to push the market higher on the open. Slow export sales in recent weeks have been offsetting the bullish influence of declining global grain stocks. However, export demand for U.S. wheat is expected to improve substantially this winter due to the steep decline in Australian production.

Cattle futures are called mixed on the open. The Cattle on Feed report released after the close on Friday was supportive for deferred contracts as October placements were down 13% from last year and were the second lowest for the month in the current data series. However, slower than expected October marketings of up only 2% should be slightly negative for the December contract.

Lean hog futures are called steady to mixed. Cash markets are called mostly steady as packers will have a limited slaughter schedule this week. Cash Fundamentals have improved some as pork cutouts were up $1.10 on Friday while cash markets were solidly lower last week.