Corn futures are expected to open 4 to 5 cents higher Thursday morning. December corn climbed solidly above chart resistance at $3.34 in the overnight session to close a nickel higher at $3.38 1/2. The breakout to new contract highs will attract technical buying while expectations for a lower production forecast from USDA on November 9 lend fundamental support.



Soybean futures are called 6 to 8 cents higher after posting strong gains in the overnight session. January was up 7 1/2 cents in overnight electronic trading to close at a new contract high of $6.65 3/4. New commodity fund money is flowing into soybeans amid mounting concerns that surging corn prices will bring a deep cut in soybean acreage.



Wheat futures are expected to open 3 to 5 cents higher, boosted by spillover from strongly higher corn and soybeans. Chicago December was 6 cents higher in overnight trading and Kansas City December was up 4 1/2 cents. Concerns about lagging U.S. export demand will limit buying interest but bullish global grain market fundamentals continue to lend strong underlying support.



Cattle futures are called 25 to 50 points lower after a weak close Wednesday extended the slide from last Thursday's highs to leave the market technically vulnerable. Ideas that cash cattle will be steady to weak and the prospect of higher corn prices are negative fundamental factors. Choice cutout values slipped 35 cents Wednesday afternoon.



Lean hog futures are called 20 to 30 points lower Thursday morning. Technical selling is expected to weigh on the market in early trading following a weak close on Wednesday. Pork cutout values were down 52 cents Wednesday afternoon pressured by lower ham prices. Early ideas favor a weaker tone in the cash market. There is light chart support at $64.15 on the December futures.