Corn futures are called 5 to 8 cents higher. Spillover strength from soybeans and firm outside markets are expected to support corn trade despite the bearish Prospective Plantings report. USDA pegged planting intentions at 84.986 million acres, up 600,000 from trade estimates and down only 1 million from last year. USDA's Quarterly Stocks estimate of 6.958 billion bushels on March 1 was down about 50 million bushels from trade estimates. Overnight trade was 1 1/2 to 2 cents higher.



Soybean futures are called 30 cents higher. USDA's planting intentions number for soybeans released this morning was 76.024 million acres, up slightly from last year's 75.7 million, but was down 3.6 million acres from trade expectations. In addition, March 1 Quarterly Stocks of 1.302 billion bushels was down 20 million from trade expectations and 128 million below year ago. Overnight trade was 7 1/4 to 9 3/4 cents higher.



Wheat futures are called 5 to 10 cents higher. Spillover support from soybeans and slightly friendly spring wheat planting intentions will be supportive for wheat. USDA pegged spring wheat planting intentions at 13.3 million acres, down 800,000 from last year and 300,000 below trade expectations. All wheat acreage was pegged at 58.6 million acres, down 4.5 million from last year. Outside markets were also supportive overnight as the dollar index was lower. Overnight CBOT trade was 1 to 1 1/4 cents higher and the KCBT was 1/4 to 1 cent higher.



Cattle futures are called steady to higher. Limit losses were seen in some contracts yesterday as the stock market fell sharply. However, Dow Jones futures were up overnight and with the firm beef prices short-covering is expected to provide some support as futures bounce back from technically oversold levels.



Lean hog futures are expected to open steady to firm. The cash market is expected to be firm, which should help support the futures market. Packers are short-bought and although packer margins remain poor, plants still need supplies for this week'slaughter schedules. Pork cutouts were up a little more on Monday and hog supplies are expected to tighten seasonally.