Corn futures are called 1 to 2 cents higher. Overnight trade was 1 1/4 to 2 1/4 cents higher. Spillover support is expected from soybeans where fund short-covering continued in overnight trade. If March can close above resistance at $2.00, it would be a signal that winter lows may be in.



Soybean futures are called 6 to 8 cents higher. Overnight trade was 6 1/4 to 8 1/4 cents higher. Funds are apparently still in the mood to cover some of their short position. Southern Brazil was dry over the weekend as expected and conditions are trimming yield expectations.



Wheat futures are called 1 to 2 cents higher. Overnight trade was 1/2 to 2 1/2 cents higher. Spillover support from soybeans and relatively good export demand the past few weeks will be supportive. Despite large global supplies of wheat, export demand has been holding up due to the relatively good condition in U.S. supplies.



Cattle futures are called steady to lower. The rally in boxed beef prices has stalled and prices were $0.41 to $1.06 lower on Friday. However, front-end losses will be limited by tight showlists and muddy feedlot conditions.



Lean hog futures are called steady to lower. Cash bids are called steady to lower as packers have taken advantage of ample marketings at lower prices. Pork cutouts were $1.35 lower on Friday and until cutouts can move higher, we look for generally lower cash trade.