Corn futures are trading higher at midday. The market opened higher on consolidation trade from the sharp losses yesterday. Commercial pricing on the break and fund buying have helped extend the gains. A bounce in the Chinese stock market overnight and the U.S. stock market this morning is also supportive. May is 5 3/4 cents higher at $4.30 and December is 5 1/2 cents higher at $4.15.



Soybean futures are higher at midsession. Futures are rebounding from yesterday's weakness. Spillover support from corn and buying interest on the break are helping to push prices higher. May is 6 1/2 cents higher at $7.85 1/4 and November is 6 cents higher at $8.22 1/2.



Wheat futures are trading mixed at midsession. Heavy deliveries against the Chicago Mar contract initially pressured the CBOT. In addition, world production prospects look favorable. However, firm corn and soybean prices are lending some spillover support to wheat. CBOT May is 1/2 of a cent lower at $4.83, KCBT May is 3/4 of a cent lower at $5.06, and MGE May is unchanged at $5.16.



Cattle futures are trading mixed at midday as traders wait for the cash market to develop for direction. The cash market is expected to be firm compared with the mostly $91 trade last week. However, very tight packer margins may limit bids. April is 8 cents lower at $97.38 and June is unchanged at $95.70.



Lean hog futures are mostly higher at midsession. Cash markets are mixed, but mostly lower today following the near $1 drop in pork cutouts values yesterday. However, packer margins remain favorable and traders are concerned about tightening hog supplies. April is 38 cents higher at $67.80 and June is 35 cents higher at $77.80.