Corn futures are called 8 to 9 cents higher. Overnight trade was 9 1/4 to 9 1/2 cents higher. The market is expected to rebound some from recent losses. Dow Jones futures turned higher overnight and firm crude oil prices could also provide some support. Weekly export sales have been strong for several weeks now and weekly export shipments this morning could also be a bullish factor.



Soybean futures are called 17 to 18 cents higher. Overnight trade was 15 3/4 to 18 3/4 cents higher. After posting big losses last week, the market is expected to bounce today. Technical momentum remains bearish, but fundamentals will provide some support. Export demand remains strong and ending stock projections are tight. Rainfall in Argentina over the weekend and forecasts for more this week and early next week has apparently already largely been factored into the market.



Wheat futures are called 7 to 8 cents higher. Overnight CBOT trade was 7 1/4 to 8 1/2 cents higher and the KCBT was 4 1/4 to 7 1/2 cents higher. Spillover support from corn and soybeans and mostly supportive outside markets overnight will help wheat futures open higher. But gains will be limited by news over the weekend that Egypt had purchased 240,000 tonnes of Russian wheat instead of from the U.S. Export demand remains a bearish concern and weekly export inspections due out this morning are not expected to be great.



Cattle futures are called steady to mixed. The Cattle on Feed report released on Friday afternoon was neutral to slightly negative, but the economy and the outside market will likely reinforce or trump the impact on prices from this report. Dow Jones futures rebounded from recent weakness overnight, which could provide some light buying interest.



Lean hog futures are called steady to mixed. The cash market was on the defensive last week and is expected to be again today. Pork demand remains a concern and pork cutouts were down 22 cents on Friday. Hog numbers are tightening, but poor packer margins will limit cash bids. Smaller than expected pork in storage reported in Friday's Cold Storage report is a supportive factor.