Corn futures are expected to open steady Monday morning after closing strong on Friday posting the highest weekly close for a nearby contract in more than ten years. In overnight trading futures were steady to a penny lower. December futures are about to challenge key resistance at $3.35 1/2. Harvest progress to be released this PM is expected to show harvest at about 60% complete.



Soybean futures are called 4 to 5 cents higher Monday. The November contract was 5 cents higher overnight to $6.40 1/2 with January at $6.53 1/2. January posted a new contract high at $6.57. Farmer selling has been light helping support prices. Harvest conditions are expected to improve although there is a chance for light rain at midweek through the Ohio valley.



Wheat futures are expected to open 1 to 2 cents higher. The Chicago December contract was 3/4 of a cent higher in overnight trading while Kansas City December was 1 1/4 cents higher. Minneapolis December was a penny higher. Wheat trade was volatile last week with futures failing to capitalize on positive export new choosing instead to focus on improved soil moisture across the Plains.



Cattle futures are called steady to mixed. Weakness in the futures Friday cast a negative light on the charts, but cash trade was firm with cash up $2 to $3. The strength in the cash suggests tightening market ready cattle supplies. Surging feed prices are seen as a negative influence.



Lean hog futures are called steady. After moving up sharply last week, futures are overbought and due for some consolidation. Futures are also at large premium to the cash index. December futures are trading just below the next key resistance point at the September high of $65.60.