Corn futures are called 10 to 12 cents higher. Overnight trade at 6:30am CT was 11 1/2 to 12 1/2 cents higher. Technical buying and spillover support from outside markets are expected push futures higher this morning. Dow Jones futures and crude oil prices were strongly higher overnight while the dollar was lower. Export demand has picked up recently, which is anticipated to be revealed in the weekly export inspections report this morning. However, further gains may be limited by forecasts for more seasonally warm weather and chances of rain, which should be conducive for crop development.



Soybean futures are called 50 cents higher. Overnight trade at 6:30 am CT was 48 3/4 to 49 3/4 cents higher. Bullish old-crop fundamentals and outside markets should provide support. Commercial buying is expected with tight old-crop stocks and solid demand continuing from China. In addition, speculative buying could help extend gains as the stock market futures and crude oil traded strongly higher overnight while the dollar was lower. Sharp gains in futures are expected despite what is generally bearish weather with more seasonally warm temperatures and chances of rain forecast this week.



Wheat futures are called 5 to 7 cents higher. Overnight trade at 6:30 am CT was 7 1/2 cents higher at the CBOT, 6 1/4 to 6 1/2 higher at the KCBT and 5 1/4 higher at the MGE. Outside market strength and spillover from corn and soybeans are expected to push wheat futures higher this morning. The weakness in the dollar index overnight is supportive as it will help U.S. wheat supplies try to become competitive on the global export market. However, gains will be limited by ample global wheat supplies and ideas of large spring wheat crop.



Cattle futures are called steady to lower. Cash trade last week was disappointing with limited movement and prices mostly at $82 in the Plains. Boxed beef prices have been moving lower as demand is sluggish. Choice cutouts were down 62 cents on Friday. But losses should be limited by expected strength in the stock market this morning.



Lean hog futures are called steady to mixed. Futures made a strong short-covering rally on Friday. Some follow-through buying is expected today. Pork cutouts were up slightly late week. However, the cash market is struggling as packers have reduced slaughter schedules. Strength in the corn market and should be supportive for deferred contracts.