Markets open at 9:30 a.m. CT. Grains were closed overnight and will open at 9:30 a.m. (CT).
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Overnight highlights. Following are opening grain and livestock calls at 6:50 a.m. CT:
Corn: Mixed. Following Monday's choppy day of trade that included little fresh news for the market to digest, corn is expected to be mixed again this morning. The U.S. dollar index is also choppy this morning.
Soybeans: Firmer. Soybeans are expected to benefit from followthrough from Friday's high-range close and open firmer this morning. But with rains in the forecast for southern and central Brazil the next five days, buying could be limited.
Wheat: Mixed. Wheat will likely follow the lead in the corn market and open mixed. Price action was rather lackluster on Monday, as futures didn't stray too from unchanged. Given the lack of fresh news, more of the same holiday trade is likely.
Live cattle: Steady to weaker. Futures are expected to favor a weaker tone this morning following Monday's slight to moderate losses. Traders were disappointed by last week's Cattle on Feed Report and are working to narrow the premium nearbys hold to last week's cash market.
Lean hogs: Mixed. Futures are expected to be choppy this morning as traders gauge the cash hog market. Cash bids are expected to be mostly steady this morning as most packers are well supplied for their holiday-shortened kill schedules. And, nearbys are trading at a premium to the cash index.