Corn futures are trading fractionally higher at midday. The market opened lower, but pulled slightly higher on spillover support from soybeans and wheat. The lack of fresh news has left the market looking for direction. Gains are being limited by recent rainfall that has helped recharge soil moisture levels in much of the Corn Belt. May is 1/4 of a cent higher at $2.32 and December is 1/4 higher at $2.61 1/4.



Soybean futures are higher at midsession. Commercial buying is supporting soybeans and soybean meal. Gains are being limited by expanding harvest progress in South America and improved soil moisture levels in much of the Midwest ahead of planting. May is 3 1/2 cents higher at $5.91 1/4 and November is 3 cents higher at $6.16 1/4.



Wheat futures are firm at midday. Technical buying and light profit-taking from the recent decline are offering support. Weather forecasts continue to be the focus of traders. Rain is expected in the central Plains this weekend although some forecasts call for lighter amounts in the western hard red winter wheat region. CBOT May is 3 1/2 cents higher at $5.91 1/4, KCBT May is 4 cents higher at $3.66 1/2 and MGE May is 2 cents higher at $4.16 1/4.



Cattle futures are trading higher at midsession. After setting new contract lows in most months, futures have rebounded on a round of profit-taking. Gains are being limited by the lack of cash trade and the recently confirmed case of BSE in the U.S. April is 12 cents higher at $83.22 and June is 15 cents higher at $78.70.



Lean hog futures are higher at midday. Short-covering has helped the market recover a small portion of yesterday's limit losses in the front end contracts. However, gains are being limited by steady to lower cash trade and heavy competition from large supplies of poultry. April is 42 cents higher at $58.15 and June is 7 cents higher at $66.70.