Corn futures are called 5 to 7 cents higher. USDA pegged planting intentions at 78.0 million acres, down 2.6 million from pre-report trade estimates and down 3.7 million from last year. March 1 stocks at 6.987 billion bushels were right on the average pre-report trade estimate.

Soybean futures are called 10 to 15 cents lower. USDA raised planting intentions to 76.9 million acres, well above trade expectations for 74.1 million and 4.8 million above 2005. March 1 stocks were near trade expectations at 1.669 billion bushels. However, stocks are 288 million above year-ago.

Wheat futures are called 3 to 5 cents higher. Spring wheat planting intentions of 13.9 million bushels came in below pre-report estimates of 14.1 million. Spillover buying from corn and ideas that USDA's crop condition ratings on Monday will remain below normal are supportive factors.

Cattle futures are called steady to higher. The market bounced yesterday from deeply oversold conditions. Follow-through buying and additional short-covering is expected today. However, gains will be limited by the bearish supply fundamentals and boxed beef prices slipping 37 to 43 cents on Thursday.

Lean hog futures are called lower on the open. Cash prices are expected to continue to slide after pork cutouts dropped $1.85 yesterday. However, some choppy trade is possible as traders position for this afternoon's Hogs and Pigs report. The market is looking for the March 1 breeding herd to be up 1.5% from last year.