Corn futures are called steady to 1 cent lower. Overnight trade was 3/4 to 1 1/2 cents lower. Light weakness overnight is expected to follow-through to the day session, but choppy trade is likely ahead of the weekend. Acreage ideas for next spring will continue to be a market mover. Traders are factoring in a 7-8 million acre increase in 2007.

Soybean futures are called 1 to 2 cents lower. Overnight trade was 1 1/2 to 1 3/4 cents lower in most active months. Light trade is expected today as the holidays are fast approaching. South American weather remains generally favorable except for some dry areas in the south. However, rainfall is forecast for next week in the drier areas.

Wheat futures are called 1 to 2 cents lower. Overnight CBOT trade was steady to 2 1/2 cents lower and the KCBT was steady to 2 3/4 cents lower. The rebound yesterday from mid-week lows indicates that the recent downtrend may be temporarily halted. A sideways trading range is expected to develop through the end of the year. Weather and the pace of export sales will remain market moving factors.

Cattle futures are called steady to mixed. Cash trade this week was mostly in the $85 range, down $1-$2 from last week. However, futures are finding technical support with the February contract holding just above $88. Higher boxed beef cutout values and brisk beef movement this week should help limit losses.

Lean hog futures are called lower on the open. Follow-through selling is expected after the strong losses posted on Thursday. Declining cash prices and pork cutout values will continue to provide fundamental pressure. However, short-covering ahead of the weekend could help futures stabilize bounce at some point today.