Corn futures are called steady to mixed. Overnight trade was 1/4 of a cent lower to 1/4 higher. The market has posted some short-covering gains the past couple of days, but we look for some choppy trade today. Fundamentals remain bearish as ending stocks are expected to more than double this marketing year.



Soybean futures are called steady to 1 cent higher. Overnight trade was 3/4 to 1 1/2 cents higher. Short-covering and firm cash basis levels have been supportive, but gains are expected to be limited by technical resistance. Export demand remains decent, but business will soon begin shifting to Brazil.



Wheat futures are called steady to mixed. Overnight trade was 1/2 of a cent lower to 1/2 higher. We look for some mixed trade today as traders look for direction. Short-covering has been supportive, but it may take some bullish news to rally futures further. Stiff competition for export business remains a concern.



Cattle futures are called steady to higher. Ideas that yesterday's losses were overdone and firm beef prices yesterday will be supportive. Traders are concerned about Canada's border opening to live cattle less than 30 months March 7. However, USDA will delay the older cow beef imports.



Lean hog futures are called steady to lower. Follow-through selling from yesterday's collapse and continued weak cash fundamentals will weigh on the market. Hog marketings remain ample and pork cutouts were $1.12 lower yesterday.