Corn futures are called 4 to 6 cents higher. Overnight trade at 6:45 am CT was 4 to 5 3/4 cents higher. Renewed weakness in the dollar and strength in Dow Jones futures overnight are supporting corn futures trade. Crop prospects in Argentina have been dimmed by hot and dry weather, although some forecasts are showing some improved chances for rain.

Soybean futures are called 13 to 14 cents higher. Overnight trade at 6:45 am CT was 13 1/4 to 13 3/4 cents higher. Strong export demand and outside markets are expected to support trade this morning. Export shipments remain well above the pace needed to reach USDA’s export forecast and USDA reported another daily sale of 226,00 tonnes of soybeans to China on Monday. Weakness in the dollar and strength in Dow Jones futures overnight are supportive for commodity markets.

Wheat futures are called 10 to 12 cents higher. Overnight trade at 6:45 am CT was 8 to 10 3/4 cents higher at the CBOT, 11 1/2 to 12 3/4 cents higher at the KCBT and 10 3/4 cents higher at the MGE. The market has been able to build on the rally yesterday that has pushed prices to the highest level in more than two years. Heavy rainfall in eastern Australia continues to raise concern about the quality of the crop despite ideas of a record crop. In addition, export demand is picking up for U.S. wheat as supplies are very tight in many exporting regions.

Cattle futures are called steady to mixed this morning as the market waits for direction from the cash market. Showlists this week are mixed with larger numbers in the South, but small numbers in the North. Packer margins have tightened, but will benefit from the $1.15 jump in choice cutouts on Monday.

Lean hog futures are called steady to mixed. Cash trade is expected to be near steady this morning. Despite larger than expected pork production, pork prices have held up fairly well. Processing margins have tightened, but have remained positive. Gains in futures will be limited by the premium to cash and follow-through selling.

Cotton futures are trading higher this morning. After consolidating on Monday, futures turned higher again. Weakness in the dollar and strength in Dow Jones futures are helping trigger some speculative buying. At 6:30 am CT, March cotton was 117 points higher at 131.60 and May was 90 points higher at 125.20 cents.