Corn futures are trading slightly lower at midsession. The market has been unable to build recent strength due to strong losses in the gold and crude oil markets this morning. Losses are being limited by some talk of a drier weather pattern this summer in the Midwest as El Nino shifts to La Nina. March is 3/4 of a cent lower at $4.16 1/4 and December is 1 1/4 cents lower at $4.12.



Soybean futures are slightly higher at midday. The losses in outside markets such as crude oil and gold are limiting gains. The new-crop November contract is leading the way on ideas of a sharp drop in acreage this spring. March is 1 1/4 cents higher at $7.68 1/4 and November is 3 cents higher at $8.19 1/2.



Wheat futures are lower at midsession. The market is being pressured by profit-taking from the gains posted on Friday and spillover weakness from corn. Improved soil moisture levels in the Plains and generally favorable HRW crop condition ratings are also bearish factors. CBOT Mar is 3 cents lower at $4.65, KCBT Mar is 1 3/4 cents lower at $4.93 3/4, and MGE Mar is 3 cents lower at $5.02.



Cattle futures are trading lower at midday. Disappointing cash sales last week of mostly $91 at a low volume has pushed futures lower as the deliverable February contract is at a premium. Technical selling extended losses as some profits are being taken from recent gains. February is $1.35 lower at $92.55 and April is 85 cents lower at $95.70.



Lean hog futures are strongly lower at midsession. Weakness in the cash market is weighing on the market as mild weather has helped increase marketings. Packer margins remain positive, but are relatively tight. Pork cutout values have backed off in recent days following the recent move higher. April is $1.08 lower at $67.43 and June is 95 cents lower at $77.15.