Corn futures are called 1 to 2 cents higher. Overnight trade was 1 1/2 to 2 1/4 cents higher. The market was technically strong on Friday with the March contract holding key support and then clearing resistance. Speculative buying has been renewed despite the neutral Supply/Demand report. Acreage talk and fund activity will remain key market factors.



Soybean futures are called steady to mixed. Overnight trade was 1/2 of a cent higher to 1 1/4 cents lower. The market posted new highs last week. Technical strength and concern about acreage shifting to corn this spring will be supportive. However, profit-taking at current levels and bearish old-crop fundamentals will limit buying interest. U.S. supplies are expected to be record large and record crops are expected in Brazil and Argentina.



Wheat futures are called steady to mixed. Overnight CBOT trade was 3/4 of a cent lower to 1 1/4 higher and the KCBT was 3/4 to 1 cent higher. The wheat market is searching for direction. The close on Friday was technically weak as prices backed off sharply from the early afternoon highs. However, export demand has picked up recently and the corn market will remain an influential factor.



Cattle futures are called steady to higher. Strength in the cash market last week and the $1.54 to $2.04 jump in boxed beef prices on Friday should be supportive. Stressful weather conditions are expected to continue in the Plains this week. However, gains may be limited by profit-taking on recent gains and concern about the light volume of cattle traded last week.



Lean hog futures are called steady to higher. Technical strength and expectations for steady to firm cash markets this morning will be supportive. Packer margins improved significantly last week with cutouts gaining nearly $6 in the last 5 business days.