Corn futures are trading fractionally higher at midsession. The decline in the stock market and strength in the dollar this morning has weighed on futures at times. However, the market is slightly higher due to the cold and wet weather in the Corn Belt that has slowed spring fieldwork and is delaying some early corn plantings. Strong weekly export inspections of 42.3 million bushels are also providing support. May is 1/2 of a cent higher at $4.05 and December is 1/2 of a cent higher at $4.36.



Soybean futures are mixed at midday. Front end contracts have been choppy, but are slightly higher at midsession on tight old-crop supplies and strong export demand. Reports of low soybean yields in South America remain a supportive factor. However, new-crop is lower as traders are adjusting the new-crop corn/soybean spread. May is 1 cent higher at $9.96 1/2 while November is 11 1/4 cents lower at $9.12.



Wheat futures are lower at midsession. Weakness in financial markets is currently outweighing the bullish weather in the Plains. Losses are being limited by concern about forecasts calling for freezing temperatures in the southern Plains that could damage some of the winter wheat crop. Cold and wet weather in the northern Plains is expected to delay some spring wheat seedings. CBOT May is 4 3/4 cents lower at $5.58 3/4, KCBT May is 2 cents lower at $6.05 1/2 and MGE May is 5 cents lower at $6.66 1/2.



Cattle futures are trading higher at midday, but trade has been choppy this morning. Firm cash trade late on Friday is providing some support, but buying interest has been limited by profit-taking and speculative selling. Boxed beef prices continued to struggle last week as retail demand remains sluggish. April is 15 cents higher at $86.20 and June is 10 cents higher at $84.28.



Lean hog futures are mixed at midsession. Most months are being pressured by profit-taking and the premium of futures to the cash market. However, losses are being limited by the 81 cent jump in pork cutouts on Friday and mostly steady cash trade so far today. April is 8 cents lower at $60.20 while June is 5 cents higher at $73.70.