Corn futures are trading slightly higher at midday. Short-covering is supporting the market despite forecasts showing little chance of significant frost damage next week, sharp losses in crude oil and strength in the dollar. December is 3 cents higher at $3.33 1/4 and March is 3 cents higher at $3.46 1/4.



Soybean futures are lower at midsession. The market is being pressured by weather forecasts calling for non-threatening weather for the Midwest. Beneficial rainfall in Brazil and ideas of increased soybean area there this year are also bearish factors. Losses are being limited by better than expected weekly export sales and August Census Bureau crush report. November is 2 1/4 cents lower at $9.18 1/4 and January is 2 cents lower at $9.23.



Wheat futures are trading higher at midday. The market is being supported by short-covering despite generally bearish fundamentals. Weekly export sales were at the high end of trade expectations, but marketing year sales to date are down 38% from last year. In addition, the International Grains Council raised their world wheat production estimate to 666 million tonnes from the previous forecast of 662 million. CBOT Dec is 2 1/2 cents higher at $4.62 1/2, KCBT Dec is 2 1/4 cents higher at $4.71 3/4 and MGE Dec is 1/4 cent higher at $4.89 3/4.



Cattle futures are trading lower at midsession. Weaker boxed beef prices and the premium of futures to cash are weighing on futures. Choice cutouts have dipped to the lowest level since August 10. Cash trade has been limited so far this week as packer demand remains slow. Cash trade is expected to be mostly steady with the $84-$84.50 trade last week. October is 40 cents lower at $86.05 and December is 45 cents lower at $85.30.



Lean hog futures are lower at midday. Futures are falling from the strong gains posted on Thursday. Steady to lower cash markets and the $1.76 drop in pork cutouts values are bearish factors. Traders are beginning to position ahead of the quarterly Hogs and Pigs report due out on Friday afternoon. There is concern the report will show inadequate herd liquidation. October is 73 cents lower at $50.20 and December is 65 cents lower at $49.40.