Corn futures are called steady to 1 cent lower. Overnight trade was 1/2 to 3/4 of a cent lower. The market is expected to consolidate some of last Friday's gains. However, losses should be limited by recent USDA projections of lower acreage and shrinking ending stocks in the 2006-07 crop year.



Soybean futures are called 5 to 7 cents lower following overnight trade that closed in that range. Fundamentals remain negative with record large ending stocks expected in the U.S. Favorable weather conditions over much of Brazil and forecasts for some relief from warm and dry weather in Argentina later this week are bearish factors.



Wheat futures are called 1 to 2 cents higher. Speculative buying and weather concerns in the Plains remain supportive factors although consolidation could limit gains after new contract highs or highs for the move were set last week.



Cattle futures are called steady to mixed. Traders will be evaluating the cash markets for further direction. Packers remain short-bought and have pushed cash prices lower, but if boxed beef prices can move higher chain speeds may increase. Profit-taking from recent losses could provide light support.



Lean hog futures are called higher on the open. Rising pork cutout prices and higher cash trade on Monday will be supportive for futures. Pork cutouts should find support on last week's smaller slaughter, which fell below 2 million head for the first time since last summer.