Corn futures are called 2 cents lower to 1 cent higher. In the overnight trade, December finished 3/4 of a cent lower at $3.35 3/4 and March was also 3/4 of a cent lower at $3.49. Weather and crop conditions will continue to dominate the corn market. Currently, there is not a forecast for a frost over the next week, but yields are still being closely watched as maturity has been lagging.

Soybean futures called 3 to 5 cents lower. Overnight trade ended weak, with November down 3 cents at $9.16 1/2 and January 3 3/4 cents lower at $9.20 3/4. Futures will be a bit weaker now that the current frost scare has subsided. Traders will be focused on South American planting and their acreage forecasts. Larger-than-expected crush and good exports should provide underlying support.

Wheat futures are called 1 cent lower to 2 cents higher. Overnight trade was mixed, with CBOT December finishing 1 cent lower at $4.72, KCBT December was 1/4 of a cent higher at $4.84 and MGE December was 1/4 of a cent lower at $5.00. Favorable weather for spring wheat harvest will likely keep pressure on prices. Weakness in the dollar should be supportive, as there is a lot of wheat to compete with on the world market.

Cattle futures are called steady to lower. Thursday's cash cattle trade seemed to adequately meet the meager demand, so there will likely be little activity in the cash markets today. A fall rally is still expected, with progress with the Japanese government adding support. Cutouts have slipped lower, with the Choice down 55 cents to $140.34 and the select down 82 cents to $133.58.

Lean hog futures are called steady to lower. Slaughter is expected to be up from last week and close to year-ago levels. The release of the Quarterly Hogs and Pigs report due out this afternoon will have traders positioning themselves, with the talk being that herd liquidation will likely be less than adequate and weigh on the market.

Cotton futures are trading higher this morning. At 7:25 a.m. CDT October is 37 points higher at 63.43 cents, and December is up 14 points at 64.95 cents. The lower dollar is providing support. Continuing rains in the Delta are a bit of a concern, although planting in this region is down and Arkansas crop progress is lagging, leaving less of the crop susceptible to damage.