Corn futures are called steady to 1 cent higher. Overnight trade was 1/2 to 3/4 of a cent higher. Futures closed firm yesterday due to the upward reversal in soybeans. We look for futures to open slightly higher today despite bearish fundamentals. USDA will update supply/demand number on Thursday morning.



Soybean futures are called 1 to 2 cents higher. Overnight trade was 1 to 1 1/2 cents higher in old-crop and 5 1/2 in the November contract. Weakness in the dollar and strength in the Commodity Research Bureau Index prompted yesterday's reversal. With futures closing near their highs yesterday, we look for some spillover buying on the open.



Wheat futures are called steady to 1 cent higher. Overnight trade was 1/2 to 1 cent higher. The market pulled higher yesterday on spillover from soybeans, weakness in the dollar and strength in the CRB index. Fundamental news remains limited but USDA will update supply/demand numbers on Thursday morning.



Cattle futures are called steady to higher. Boxed beef prices continue to shoot higher with gains of $2.71 to $4.02 on Tuesday. Gains may be limited as traders wait to see how cash trade develops this week.



Lean hog futures are called steady to mixed. Packers have been raising bids for hogs despite poor margins. Pork cutouts were 10 cents lower yesterday. Cash markets are expected to be steady to firm again today.