Corn futures are called steady to mixed. Overnight trade was 1/4 of a cent higher to 1/2 lower. Short-covering was slightly supportive yesterday, but ideas of bearish USDA revisions on Wednesday in the Supply/Demand report is expected to keep the market choppy today.



Soybean futures are called steady to 1 cent higher. Overnight trade was steady to 3/4 of a cent higher. Technical buying and short-covering was supportive yesterday, but futures ended at the low end of the daily range. Analysts do not look for any big changes in the Supply/Demand report due out Wednesday.



Wheat futures are called 1 to 2 cents higher. Overnight trade was 1 1/4 to 1 3/4 cents higher. The market has bounced off of contract lows set last Friday. Traders will be watching the export number tomorrow morning. Exports are running ahead of the pace needed to reach USDA's forecasts, but stiff competition could hamper sales the rest of the marketing year.



Cattle futures are expected to open 25-50 points higher. Cash fundamentals are improving with tight showlists this week and yesterday's $2.01 to $2.51 jump in cutouts. Wet and wintery weather in the Plains will hamper feedlot operations.



Lean hog futures are called steady to lower. Cash fundamentals remain weak and we look for $0.50 to $1 lower bids. Packers generally have adequate supplies and cutouts were 56 cents lower on Monday. Spillover buying interest in the deferreds should help limit losses.