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Overnight highlights. Following are highlights of overnight trade and opening calls:

Corn: 1 to 2 cents higher. Futures saw light support overnight from dollar weakness, as well as optimism euro-zone leaders are making progress toward solving the debt crisis. Later this week, government leaders from all 27 EU nations will meet to discuss the debt issues. Also this week, traders will begin to even positions ahead of Friday's December Supply & Demand Report, although few changes to demand figures are expected.

Soybeans: 4 to 6 cents higher. Nearby soybean futures tested last week's highs overnight, finding support from dollar weakness as well as concerns about building dryness in South America. There is some growing optimism euro-zone leaders are showing a more unified effort toward solving the debt crisis, which has increased traders' comfort toward adding risk.

Wheat: 1 to 4 cents higher. Futures were stronger overnight on spillover from neighboring pits, as well as followthrough from last week's gains. Wheat futures signal a near-term low is in the works, but March Chicago wheat needs to return above $6.40 to increase confidence of a low. Short-term downtrending resistance was violated last week.

Live cattle: Steady to firmer. Nearby live cattle futures ended last week at a discount to the cash market, which should help support futures this morning. However, beef values softened last week, which pushes packers' profit margins even deeper into the red. Key for the cash market this week will be how the beef market performs.

Lean Hogs: Steady to firmer. Futures are expected to see a lift from positive outside markets, which is increasing traders' willingness to add long positions. Futures are also expected to be supported by short-covering following Friday's decline. While bears' hold the near-term technical advantage, short-covering is expected this morning.

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