Corn futures are called 1-2 cents higher. In overnight trade corn futures were 1/2 to 1 1/4 cents higher. Traditional commodity funds along with the new index funds are supporting the rally.

Soybean futures are called 7-9 cents higher in line with the gains in overnight trade. Thursday's strong close along with dry weather across Argentina is friendly.

Wheat futures are expected to open 1-2 cents higher. Futures were fractionally mixed in overnight electronic trade. Wheat continues to find strong support due to the dryness across the southern Plains and on news that Iraq is looking to buy up to a million metric tons of wheat.

Cattle futures are called steady. Cash cattle trade has been light so far this week with most expecting cash to trade at levels about steady with a week ago near $97 in the Plains. Beef prices were lower on Thursday with choice 6-9 cwt. down 31 cents to $155.30.

Lean hog futures are called steady to 20 cents lower Friday. Pork cutout fell 21 cents to 59.80 on Thursday. Pork demand has softened with pork prices at two-year lows. However, after the steep decline in prices this month, futures are ripe for a technical bounce.