Corn: 1 to 2 cents lower
Soybeans: Narrowly mixed
Wheat: 1 to 3 cents lower
Soybean futures finished a quiet, two-sided overnight session near unchanged. Corn and wheat were weaker overnight.
Soybeans found mild strength at times during the overnight session from dryness in Argentina. However, there is a chance of rains across western Argentina later this week, which will limit buyer interest this morning.
Corn and wheat futures faced mild pressure overnight after losses Friday. With futures ending on session lows overnight, followthrough selling is likely on the open this morning. A weaker dollar should help limit selling.
Hogs: Slightly higher
Cattle futures faced profit-taking pressure Friday, which could lead to light selling on the open the is morning. But seller interest is likely to be limited as traders wait to form cash cattle opinions for the week based on post-holiday wholesale beef trade.
Hog futures gapped up on the daily charts Friday, which should generate followthrough buying this morning. But the late paring of gains suggests any buying will be light and some profit-taking could enter the market. Cash hog bids are expected to be generally steady across the Midwest as packers assess near-term slaughter needs now that kill schedules are back to normal this week.