Corn futures are trading higher at midsession. Strength in crude oil and some early gains in the stock market are providing support for the corn market. Weekly export inspections reported this morning were above trade expectations at 40.6 million bushels. Positioning ahead of the Supply/Demand report due out on Wednesday is also providing support. May is trading 5 3/4 cents higher at $3.58 1/2 and December is 6 1/2 cents higher at $3.97 1/4.

Soybean futures are higher at midday. The market is being supported by strength in the cash market and talk that China bought up to eight cargoes of U.S. soybeans from the Pacific Northwest last week. In addition, firm crude oil prices are supportive. The stock market provided light support as it rallied off opening lows, although it has since turned lower. May is 6 cents higher at $8.73 and November is 7 1/2 cents higher at $8.22 1/2.



Wheat futures are mostly lower at midsession. Futures are being pressured by concern about sluggish wheat export demand and forecasts for some much needed rainfall in the HRW wheat belt. Strength in the dollar is also a bearish factor as it will make U.S. wheat even less competitive on the world export market. CBOT May is 2 1/4 cents lower at $5.24 3/4, KCBT May is 1 1/2 cents lower at $5.72 1/2 and MGE May is 3 cents lower at $6.10.



Cattle futures are higher at midday. The cattle market found some early support from the stock market turning higher this morning, although the stock market has since dipped back to lower levels. The cash market is expected to be steady again this week. Cattle supplies are tightening and there is optimism by some traders that beef prices will begin to show seasonal improvement. April is 78 cents higher at $83.23 and June is 58 cents higher at $81.65.



Lean hog are trading mostly lower at midsession. The nearby contract is finding light support from recent strength in the cash market. However, the stock market has turned lower and packer margins remains negative, which is keeping some pressure on deferreds. April is 20 cents higher at $62.70 while June is 15 cents lower at $73.58.