Corn futures are called steady on the open. Overnight trade was 2 1/4 to 3 1/2 cents higher, but those gains will be tempered by an increase in the world production number. USDA left U.S. corn ending stocks at 935 million bushels this month, unchanged from last month, but world production was raised just over 4 million tonnes.



Soybean futures are called steady to firm on the open. Overnight trade was 4 1/4 to 7 1/4 cents higher. USDA left soybean ending stocks unchanged at 565 million bushels. However, world numbers were slightly bearish as USDA raised Argentina's crop by 0.7 million tonnes to 42 million. Brazil's crop was left unchanged at 56 million tonnes.



Wheat futures are called steady to mixed. The supply/demand report was slightly bearish for the KCBT as exports were lowered 25 million bushels thanks to sluggish sales of HRW and wheat ending stocks were raised 20 million bushels to 438 million. However, the CBOT is expected to garner some support from an export sale over the weekend of SRW wheat to Egypt. Overnight trade at the CBOT was 2 to 3 1/4 cents higher and the KCBT was 1 cent higher.



Cattle futures are called mixed. Some support may be generated from cash trade last on Friday at $87-$87.50, up $1 from the previous week. However, there is concern that poor margins will cause packers to slow slaughter schedules this week. This could weigh on cash trade this week as market ready cattle supplies are expected to grow.



Lean hog futures are called steady to mixed as traders evaluate the cash market. Packer margins tightened last week, but remain in the black. Buyers hope better weather this week boosts the number of hogs available, but the lower weights suggest there is no real backlog of market ready hogs.