Corn futures are called 3 to 4 cents higher. Overnight trade was 3 1/4 to 3 3/4 cents higher. Spillover support is expected from soybeans. Feed demand should get a boost from cattle on feed numbers being up 2% from year-ago. Overnight trade pushed March above resistance at $2.02, opening the way for further short-covering.



Soybean futures are called 15 to 16 cents higher. Overnight trade was 15 1/2 to 16 3/4 cents higher. Continued forecasts for warm and dry weather in the driest areas of Brazil and Argentina are expected to add more fuel to the recent short-covering rally.



Wheat futures are called 4 to 5 cents higher. Overnight trade was 4 1/4 to 6 1/2 cents higher. Spillover support from soybeans and corn are expected to help rally the market. However, the lack of fundamental news and concern about the competitiveness of U.S. wheat on the world market could limit gains.



Cattle futures are called 25-50 points higher. The Cattle on Feed report released after the close Friday was bullish relative to expectations. January placements were up 7 percent from the low year-ago level, compared to expectations for a double-digit increase.



Lean hog futures are called steady to mixed. Cash bids are called steady to firm, but weakness in pork cutouts of 93 cents yesterday may limit the higher bids. Futures continue to hold a large premium to the CME lean hog index.