Corn futures are called steady to mixed. Overnight trade was 1/4 of a cent lower to 1/2 higher. The market seems to be looking for direction with little fresh news available. Fundamentals are mostly bearish, but speculative buying could still push prices higher. Weekly export sales could provide some direction. Trade expectations range from 32-43 million bushels.



Soybean futures are called steady to 1 cent higher. Overnight trade was 1/4 to 1 1/4 cents higher. The market was mixed yesterday. Commercial buying was initially supportive before turning lower as buying interest dried up. We look for choppy trade again today although bearish fundamentals make the path of least resistance down. Weekly export sales are expected to be in the 11-18 million bushel range.



Wheat futures are called 1 to 2 cents lower. Overnight trade was 1/2 to 1 3/4 cents lower. Forecasts are calling for good rainfall in the central Plains. However, warm and windy weather this week has worsened already poor conditions. We look for choppy trade, but mostly lower as long as forecasts show favorable rainfall. Weekly export sales are expected to be in the 11-20 million bushel range.



Cattle futures are called mixed as traders wait for the cash market to develop. Current ideas are for steady to $1 lower trade. Forecasts for rain and even snow in some parts of the Plains this weekend could offer light support to futures. Fundamentals remain mostly bearish, but yesterday's reversal action could indicate a near-term low is in place.



Lean hog futures are called steady to lower. Short-covering pulled some contracts higher yesterday, but we look for weakening cash fundamentals to weigh on futures this morning. Pork cutouts were 74 cents lower on Wednesday and cash markets are called steady to lower again today.