Corn futures are trading lower at midday. Continued fund liquidation has been triggered by weakness in equity and stock markets. The May contract has dipped below the $4 mark this morning. Generally favorable early planting weather for the southern U.S. and ideas of a large jump in acreage are also bearish factors. May is 6 cents lower at $4.00 3/4 and December is 5 1/4 cents lower at $3.95 1/2.



Soybean futures are lower at midsession. Follow-through weakness from yesterday's late session sell-off is weighing on the market as concerns remain about weakness in the stock and equity markets. NOPA crush for February at 130.8 million bushels was below pre-report trade estimates. May is 3 cents lower at $7.52 1/2 and November is 3 1/2 cents lower at $7.91.



Wheat futures are lower at midday on spillover weakness from corn and outside markets. Traders were also disappointed that Egypt filled a recent export tender with wheat from Russia and none of the business went to the U.S. Forecasts for more precipitation in the Plains is also providing some fundamental pressure. CBOT May is 6 1/2 cents lower at $4.60, KCBT May is 6 cents lower at $4.85 1/2, and MGE May is 5 cents lower at $5.01 1/2.



Cattle futures are trading lower at midsession. Follow-through selling is weighing on futures with spillover weakness coming from outside markets. Losses in the April contract are being limited by surging beef prices and expectations for firm cash trade this week. April is 80 cents lower at $99.30 and June is $1.43 lower at $95.98.



Lean hog futures are strongly lower at midday. Weakness in the cash market today following the $1.33 drop in pork cutouts yesterday and futures premium to cash are pressuring prices. Fund liquidation and triggered sell-stops have helped extend the losses. April is $1.65 lower at $65.80 and June is $2.45 lower at $75.55.