Corn futures are called 1 to 2 cents higher. Overnight trade was 1 to 2 1/4 cents higher. Speculative buying pushed prices higher yesterday and with technical resistance cleared, small gains are expected this morning. Trade volume will remain light ahead of the noon CT close as traders get an early start on the holiday weekend. Strong export demand remains a supportive factor.



Soybean futures are called 3 to 4 cents higher. Overnight trade was 2 1/4 to 3 3/4 cents higher. Light fund buying is expected in thin pre-holiday trade. Export demand remains strong and soybeans need to keep pace with corn due to acreage implications next spring. However, generally favorable growing conditions in South America could limit buying interest.



Wheat futures are called 2 to 3 cents higher. Overnight CBOT trade was 3/4 to 3 cents higher and the KCBT was 1 3/4 to 2 3/4 cents higher. The market posted a strong close on Thursday, with the CBOT leading the way. Technical support is expected after the CBOT March contract broke out above of a tight sideways trading range. The higher close in spite of this week's beneficial moisture in the Plains provides a bullish signal.



Cattle futures are called steady to mixed. Light pre-holiday trade is expected with traders also evening positions ahead of the Cattle on Feed report due out this afternoon. Cash trade is expected to develop today at firm prices, although the drop in beef prices yesterday will limit gains. Boxed beef prices were $1.50 to $2.63 lower on Thursday.



Lean hog futures are called steady to mixed. Cash trade is expected to be limited but at steady to firm prices. Some packers still need some inventory to fill aggressive Saturday slaughter schedules. The cold storage report released after the close on Thursday was generally neutral as pork stocks were within trade expectations.