Corn futures are trading lower at midday. Favorable growing conditions across the Corn Belt over the weekend and into the next few days are pressuring on prices. Crop progress reports are due out this afternoon, and the trade is anticipating improved conditions. Outside markets are weighing on corn, with the stock market and crude oil down and the dollar higher. September is 7 cents lower at $3.38 3/4 and December is 8 3/4 cents lower at $3.48 3/4.

Soybean futures are trading lower at midday despite better than expected export inspections of 14.1 million bushels. There have been concerns that export demand might be waning as sales to China have slipped and the Baltic Dry Freight Index is decreasing. Favorable weather and bearish outside markets are dominating the commodities and pushing futures lower. August futures are 20 cents lower at $11.34 and November is 28 1/2 cents lower at $9.77 1/2.

Wheat futures are trading lower at midday. Prices are being weighed down by seasonal harvest pressure and slow exports are weighing on the market. Kansas harvest reports are showing better-than-expected crops, but others are well off the averages. Good weather should lead to improved spring wheat crop conditions today. Outside markets are having a bearish effect. CBOT September is 3 3/4 cents lower at $5.25 1/4, KCBT September is 5 cents lower at $5.59 1/4 and MGE September is 5 3/4 cents lower at $6.16 3/4.

Cattle futures are trading lower at midday. Buying interest is light following the long weekend, with outside market pressuring weighing on futures. Beef demand tends to decrease as we head into the hotter summer months. Beef processor margins are down from last year and the 3-year average, which will likely keep futures prices in check. August is 25 cents lower at $84.63 and October is 40 cents lower at $89.83.

Lean hog futures are trading mixed at midday. Consumer demand has been good. Russia's lifting of the ban on swine and pork products from Illinois, Pennsylvania, Texas and New Jersey should boost exports. Low production last week is expected to spark buying. Poor processor margins are likely limiting gains. August is $1.35 higher at $62.50 and October is 98 cents higher at $58.15.