Corn futures are called 1 to 2 cents lower. Overnight trade at 6:30 am CDT was 1 3/4 to 2 1/4 cents lower. The market traded lower overnight amid favorable crop weather this week that helped the tail end of harvest and early season crop growth. With generally favorable conditions expected over the extended holiday weekend, futures could be pressured by end of month positioning. But losses should be limited by weakness in the dollar and strength in crude oil and DJIA futures overnight.


 


Soybean futures are called 3 to 4 cents lower. Overnight trade at 6:30 am CDT was 3 1/4 to 4 1/4 cents lower. The lack of fresh demand news and generally favorable weather for soybean planting and emergence are expected to weigh on futures. Some end-of-month selling is likely ahead of the extended holiday weekend. But losses will be limited by weakness in the dollar and strength in crude oil and DJIA futures overnight.


 


Wheat futures are called 1 to 2 cents higher. Overnight trade at 6:30 am CDT was 1 1/2 to 2 1/4 cents higher at the CBOT and 1 1/4 to 1 1/2 cents higher at the MGE. Weakness in the dollar overnight and strengthening gulf basis levels for SRW will be supportive. Short-covering at the end-of-the-month could also provide some support ahead of the extended holiday weekend. But gains will be limited by sluggish demand, abundant global wheat supplies and expected weakness in corn and soybeans.


 


Cattle futures are called steady to higher. Short-covering ahead of the extended holiday weekend is expected. Outside markets will be slightly support as the dollar was lower and DJIA futures higher overnight. But gains will be limited by the weakness in the cash market this week and the strong losses in boxed beef prices on Thursday. Choice cutouts were down $1.31 and select cuts were $1.96 lower.


 


Lean hog futures are called steady to mixed in light volume. Traders will be gearing up for the extended holiday weekend. Pork cutouts were able to rally 50 cents on Thursday. But cash markets remain weak amid slow demand from packers. Margins for packers are favorable, so cash prices could stabilize again next week after the Memorial Day holiday. Strength in the stock market yesterday and in DJIA futures overnight will be slightly supportive.