Corn futures are expected to open about 2 cents higher Monday morning after climbing 2 to 2 3/4 cents in the overnight session. A hot, dry weather pattern has become entrenched in Argentina and is lending strong fundamental support. The March futures contract faces stiff chart resistance at the $2.21 early January high.



Soybean futures are called 10 to 15 cents higher Monday following gains of 12 to 17 cents in overnight trading. Weather in Argentina and southern Brazil has become the dominant market factor with hot, dry weather in the forecast for the region through this week and into next week.



Wheat futures are called 2 to 3 cents higher in line with gains posted in the overnight trading session. Weekend rainfall was east of the primary hard red winter wheat area with mostly dry weather in the forecast for the region this week. Results of the Iraqi tender for 1 million metric tons of wheat are expected Wednesday.



Cattle futures are called 25 to 50 points lower after closing with steep losses last week. The USDA Cattle Inventory report Friday was neutral to slightly bearish showing a 1.7 million head in increase in the nation's cattle inventory to 97.1 million head. Cash prices were $1 to$2 lower last week and are expected to be under pressure again this week.



Lean hog futures are called slightly lower on the opening with spillover pressure expected from the cattle pit. The hog market is technically quite weak after suffering steep declines during the last couple of weeks. The pork cutout value was down 74 cents Friday afternoon.