Corn futures are trading higher at midday. Despite ideas of some further consolidation trade today, futures have turned higher. Speculative buying is being triggered by strong demand for corn and the need to buy acres next spring from other crops. December is 6 1/2 cents higher at $3.49 and March is 5 3/4 cents higher at $3.64 1/4.



Soybean futures are higher at midsession. Futures opened higher and gains were extended once corn turned higher. The market is trying to keep the corn to soybean price ratio in check as traders look ahead to next spring and acreage implications despite bearish supply fundamentals. November is 7 cents higher at $6.53 1/2 and January is 8 cents higher at $6.65 1/2.



Wheat futures are trading slightly lower at midsession. The market is being pressured by technical selling and sluggish U.S. export demand. However, as corn turned higher, wheat losses have been trimmed. CBOT Mar is 1 1/4 cents lower at $4.97 1/2, KCBT Mar is 1 cent lower at $5.23, and MGE Mar is 1/2 cent lower at $5.08.



Cattle futures are trading mixed at midsession. Spread trading and short-covering is offering light support to front end contracts. In addition, boxed beef prices turned a little higher yesterday. Cash cattle bids are expected to be near steady later this week after falling $3 last week. December is 38 cents higher at $86.13 and February is 10 cents higher at $88.95.



Lean hog futures are mostly lower at midday. Carryover selling from Monday's steep losses and weak cash fundamentals are weighing on most contracts, although short-covering has limited weakness. Cash hog prices continue to decline as packers have most needs covered for the week. December is 8 cents lower at $61.15 and February is 40 cents lower at $64.60.