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PRO FARMER'S AHEAD OF THE OPEN FOR 2/9/10

** OPENING GRAIN CALLS **
 Corn: 5 to 7 cents higher: USDA data "friendly."
 Wheat: 2 to 4 cents higher; spillover from neighboring pits, dollar.
 Soybeans: 7 to 10 cents higher; USDA tightens carryover.
 Meal: $2 to $4 higher; spillover from beans.
 Soyoil: 40 to 60 points higher; spillover from beans, crude oil.
 
  Grain futures were firmer in overnight trade on followthrough from
yesterday's gains and weakness in the dollar. Crude oil and gold futures are higher this morning. On top of that, this morning's USDA reports are being deemed as supportive for corn and soybeans and neutral for wheat.
  Thanks to increases in crush and exports, USDA trimmed soybean carryover 35 million bu. from last month, which was more than traders expected. At 210 million bu., carryover is now hovering near "comfortably tight." Meanwhile, USDA raised the Brazilian bean crop estimate, but global carryover tightened slightly.
  USDA trimmed corn carryover 45 million bu. from last month as an
increase in ethanol usage more than offset the 50-million-bu. drop in the export forecast. The tighter carryover means fewer carryin stocks for the upcoming year, which could add some urgency back in the market toward bidding for acres.
  USDA raised wheat carryover by 5 million bu. from last month to a
burdensome 981 million bushels. The increase came via an upped import
forecast. Traders had hoped for a slight downtick in carryover.
 
** OPENING LIVESTOCK CALLS **
 Live cattle: Higher; followthrough support.
 Feeder cattle: Steady to firmer; gains could be limited by corn.
 Lean hogs: Steady to firmer; weather concerns.
 
  Livestock futures are expected to see followthrough from yesterday's
gains, as well as help from outside markets. The dollar is weaker this
morning, with the U.S. stock market set to bounce following yesterday's
dip back below the 10,000 level.
  Additional support in livestock futures is expected from the weather, as blowing and drifting snow across the country's midsection is making for hazardous travel conditions and limiting livestock travel, as well as resulting in one of the most stressful winters for animals in years.
  Sources say the cash market is watching futures for direction, which
currently point to higher cash trade. However, this week's showlist is
estimated to be up slightly from last week. Key will be if the beef market can continue to strengthen after yesterday's strong performance.
  The cash hog market is called steady to firmer as producers battle
another winter storm. Once the weather clears, cash sources say packers
will be in need of supplies and bids could firm, although margins are
hovering above breakeven.

The daily commentaries provide a recap of each product's traded price activity, an analysis of the factors that influenced price activity, a recap of any reports released that day, and a look ahead at the next day's schedule. CME Group provides market commentaries for corn, wheat, soybeans, gold, silver, FX, equity indexes and regional market updates.

The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.