Corn futures are called steady to 1 cent higher. Overnight trade was steady to 1 1/4 higher. The market is nearing contract lows. Fundamentals remain bearish, but we look for light buying on the open. Planting conditions have been favorable so far this spring, but rain this week could slow that.



Soybean futures are called steady to 1 cent lower. Overnight trade was steady to 1 1/2 cents lower. Light technical selling following recent weakness is expected on the open. USDA cut carryover stocks and Brazilian production estimates, but many traders were looking for bigger cuts on both accounts. The market could test recent lows this week.



Wheat futures are called steady to 1 cent higher. Overnight trade was steady to 1 3/4 cents higher. The market has been weak recently, but we could see some consolidation trade this morning. Gains will likely be limited by favorable winter wheat crop conditions and precipitation in the Plains.



Cattle futures are called steady to mixed. Spillover weakness and lower cutouts will be bearish factors this morning. Boxed beef prices were 43 to 74 cents lower on Friday. However, uncertain cash prospects for the week and the cash market premium to futures could provide some support.



Lean hog futures are called steady to higher. Spillover buying from Friday's rally and ideas of firm cash trade this week will be supportive. However, packers will likely want to see improved cutouts before moving cash prices much higher. Pork cutouts were 6 cents lower on Friday.