Corn futures are trading mixed at midday. Traders are consolidating Friday's gains. Support is continuing to come from planting intentions coming in well below expectations. Fund buying has been limited today despite strength in energy and metal prices. May is 1/4 of a cent lower at $2.35 3/4 and December is steady at $2.68.



Soybean futures are lower at midsession. Bearish fundamentals continue to weigh on the market. Expectations for a big jump in acreage in the U.S. this spring and South America current harvest of a record crop are negative factors. However, losses are being limited by inflation concerns from higher energy and metal markets. May is 4 cents lower at $5.67 1/2 and November is 5 3/4 cents lower at $5.97.



Wheat futures are mostly lower at midday. Weekend rainfall in central Kansas and parts of Oklahoma should benefit the HRW wheat crop. However, crop conditions ratings to be released this afternoon are expected to be below normal. Abundant old-crop supplies and sluggish export demand are limiting buying interest. CBOT May is 5 1/2 cents lower at $3.42 1/4, KCBT May is 4 cents lower at $4.14 1/2 and MGE May is 3 1/4 cents lower at $4.01.



Cattle futures are firm at midday. Futures discount to the cash market and ideas that demand will improve after Easter are supportive factors. The market is deeply oversold on technical charts, which has prompted some light short-covering this morning. April is 50 cents higher at $80.00 and June is 20 cents higher at $74.55.



Lean hog futures are trading higher at midsession, led by strength in the summer months. Support is coming from the Hogs and Pigs report that generally showed less than expected expansion. Cash trade is generally steady so far today, but some firm bids are expected early this week. April is 75 cents higher at $58.10 and June is 93 cents higher at $66.20.