Corn futures are called steady to mixed. Overnight trade was 1/4 of a cent lower to 3/4 higher. Fund buying pushed prices higher yesterday with some support from ideas that cool and wet weather will slow planting progress and early season growth. However, USDA reported that 30% of the crop was in the ground as of Sunday compared to the 5-year average of 22%.



Soybean futures are called 2 to 3 cents higher. Overnight trade was 1 3/4 to 2 3/4 cents higher. Funds have returned to the market in a buying mood, although profit-taking trimmed gains yesterday. USDA was expected to report soybean planting progress, but they will wait a week due to the lack of progress. Wet conditions in the Delta have slowed progress there.



Wheat futures are called steady to 1 cent higher. Overnight trade was steady to 1/2 of a cent higher. Concern about the cool wet weather in the eastern Corn Belt and dry conditions in the Plains will be supportive. Winter wheat conditions remain strong, but they did slip to 68% good to excellent, down 1% from the previous week. Spring wheat gains will be limited by planting progress of 40%, up 12% from normal.



Cattle futures are called higher this morning. Follow-through technical buying and continued bullish sentiment from the Cattle on Feed report is expected to support the market. Despite generally larger showlists, cash trade is expected to be firm this week. Boxed beef prices were $1.10 to $1.71 higher on Monday.



Lean hog futures are called steady to lower. Weakening cash fundamentals and spillover selling are expected to weigh on futures. Technically, the market is also looking rather week. Packer margins remain poor although pork cutouts were up 55 cents on Monday.