Corn futures are called steady to 2 cents higher. USDA's planting intentions number of 81.4 million acres is down from the average analyst estimate of 82.3 million. However, gains for old-crop months may be limited by March 1 stocks of 6.754 billion being up 32 million from trade guesses.

Soybean futures are called 3 to 5 cents higher. March 1 stocks of 1.381 billion bushels are 39 million below the average trade estimate. However, new-crop contracts may be limited by planting intentions of 73.9 million acres, which are up 400,000 from the average trade guess.

Wheat futures are called 1 to 2 cents lower. Spring wheat acreage planting intentions were pegged at 14.4 million compared to pre-report estimates that averaged 13.8 million. However, stocks were slightly supportive at 981 million bushels versus trade guess that averaged 994 million.

Cattle futures are called steady to lower. Despite strongly higher cash trade in Nebraska at $94-$95 yesterday, futures turned lower leaving a reversal on the charts. Cash trade in the southern Plains has not been established.

Hog futures are called steady to mixed. April is at a premium to cash and traders are beginning to liquidate positions. However, if cash hog bids can gain some momentum, they should fuel a rally in deferred futures as well.