Corn futures are called steady to mixed. Overnight trade was steady to 1/4 of a cent higher. Yesterday's gains were attributed to some month-end short-covering. However, buying interest remains limited and export demand is sluggish. Technically, futures still look like they could fall below support at $1.95 on the March contract.



Soybean futures are called steady to 1 cent higher. Overnight trade was 1/4 to 1 1/4 cents higher. Argentina had some good rainfall this past weekend, but southern Brazil only saw spotty rains. Strong gulf basis supported the nearby as country movement remains slow and rumors of Chinese buying interest were floated.



Wheat futures are called steady to 1 cent higher. Overnight trade was 1/2 to 1 1/2 cents higher. End of the month short-covering supported prices yesterday. We look for light buying interest on the open as export demand has picked up a little. However, demand could be limited this week as the European Union is expected to grant export subsidies.



Cattle futures are called steady to higher. Ideas that cash trade will be steady to firm this week should provide some support. Showlists are generally smaller this week and beef prices may be stabilizing. Boxed beef prices were $0.29 to $0.43 lower on Monday.



Lean hog futures are called steady to lower. Packer margins are poor and cash bids are expected to be mostly lower today. Pork cutouts were 35 cents lower yesterday. Strong export demand for pork will help limit losses.