Corn futures are trading lower at midday. Warmer weather in the Midwest is expected to boost crop development, while crop stress should be limited by chances of rain and ideas that temperatures will moderate again next week. Strength in the dollar is also a bearish market factor. September is 1/4 of a cent lower at $3.23 1/4 and December is 1 1/4 cents lower at $3.39 1/4.



Soybean futures are higher at midsession. The soybean market has been able to trade higher despite weakness in corn and wheat and amid strength in the dollar. Tight old-crop stocks and some weather concerns for new-crop are pushing prices higher. Warmer and drier weather in the Midwest could hurt soybean yields as the crop is setting pods and beginning to fill. September is 12 1/2 cents higher at $10.92 and November is 11 1/4 cents higher at $10.41 1/4.



Wheat futures are mixed at midday. Winter wheat prices are lower on technical selling following the drop below technical support on Thursday and by strength in the dollar. However, losses are being limited and the MGE is higher on positioning ahead of the crop report due out on Wednesday and spillover strength from soybeans. CBOT Sep is 1 1/2 cents lower at $4.98 1/4 at KCBT Sep is 1 cent lower at $5.33 while Sep is 2 1/2 cents higher at $5.81 3/4.



Cattle futures are trading mostly lower at midsession. Spillover pressure from the lean hog pit is weighing on deferred contracts. Strength in the dollar and recent weakness in beef prices remain negative fundamental factors. Cash trade was $1-$2 lower on a dressed basis in the North on Thursday, but no trade has been reported from the southern Plains yet this week. October is 25 cents lower at $88.88 and December is 35 cents lower at $88.55.



Lean hog futures are sharply lower again at midday. The August contract is at the lowest level for a nearby month in 5 1/2 years. Cash hogs remain under pressure from more than adequate hog marketings and further weakness in pork cutout values. Pork prices fell another $2.23 on Thursday. August is $1.78 lower at $49.30 and October is $2.43 lower at $45.15.