Corn futures are called steady to mixed. Overnight trade was 1/4 of a cent higher to 3/4 lower. We look for choppy trade as the market gears up for the USDA Production report due out next Tuesday. Strong demand will be an underlying supportive factor. However, with the USDA report and harvest still ahead, a test of the contract lows is still very possible. Weekly export sales are expected to be in the 35-55 million bushel range.



Soybean futures are called steady to 1 cent lower following overnight trade that ended that way. Technical buying and short-covering helped rally prices on Thursday, but we look for some weakness on the open. Fundamentals remain bearish as production estimates are rising ahead of the USDA number due out September 12. Weekly export sales are expected to be in the 15-22 million bushel range.



Wheat futures are called mixed. Overnight CBOT trade was 1/2 cent lower to 2 cent higher and the KCBT was 2 1/2 cents lower to 3 cents higher. The market is expected to be in consolidation mode following yesterday's bounce. Expectations for a positive world supply/demand report next week will limit losses. Export sales from the U.S. have been disappointing so far this summer and traders are only looking for modest sales in today's report with pre-report estimates ranging from 11-18 million bushels.



Cattle futures are called steady to mixed as traders wait for the cash market to develop. Ideas that cash prices may be steady this week rather higher contributed to the setback yesterday. Some strength could come from news this morning that South Korea has approved resuming exports from the U.S.



Lean hog futures are called steady to lower. Recent weakness in pork cutouts and packers ability to push cash prices lower will weigh on the market. Profit-taking from the recent rally and concern that the high level of pork production will weigh on cutouts are expected to limit buying interest.