Corn futures are trading higher at midday. The market is making a technical bounce following recent losses. Larger-than-expected weekly export sales and firm outside markets are offering fundamental support. May is 2 cents higher at $2.30 and December is 2 cents higher at $2.58 3/4.



Soybean futures are higher at midsession. Positioning ahead of the Supply/Demand report due out Friday morning is supporting prices following recent losses. Weekly export sales were better than anticipated this morning as China remains a large customer. May is 3 cents higher at $5.87 and November is 2 1/4 cents higher at $6.12.



Wheat futures are lower at midday. After opening higher, futures turned lower once fund buying slowed. Precipitation in the Midwest will benefit SRW and forecasts call for some chances for light precipitation in the Plains. Traders are evening positions ahead of the USDA reports due out Friday morning. CBOT May is 4 1/2 cents lower at $3.80, KCBT May is 3 cents lower at $4.40 1/2 and MGE May is 1 3/4 cents lower at $4.28.



Cattle futures are higher at midsession. Gains are being attributed to a short-covering bounce following recent losses. Boxed beef prices have been declining recently, but active beef movement has given some optimism that prices may soon turn higher. April is 62 cents higher at $84.77 and June is 22 cents higher at $79.57.



Lean hog futures are trading mixed at midday. Weakness in the cash market and yesterday's $2.28 drop in pork cutouts initially weighed on futures. However, the market has been able to rebound due to a round of short-covering. April is 20 cents higher at $59.35 and June is 10 cents lower at $68.20.