Corn futures are trading higher at midday. Technical short-covering has helped the market rally from contract lows as traders even positions ahead of Wednesday's Supply/Demand report. March ended 1 3/4 cents higher at $1.96 3/4.



Soybean futures have made a solid recovery this morning. Oversold technicals have led to short-covering as traders prepare for this week's Supply/Demand report. Soybean basis at the gulf is firm after breaking last week. March was 7 1/4 cents higher at $5.06 3/4.



Wheat futures are higher at midsession. Gains are being attributed to a short-covering bounce amid oversold conditions. Rally attempts are being limited stiff competition for export sales. CBOT Mar is 3 1/4 cents higher at $2.91, KCBT Mar is 2 1/2 cents higher at $3.24 3/4, MGE Mar is 1 1/4 cents higher at $3.36 1/2.



Cattle futures are trading higher this morning. Higher cash markets last week and ideas of steady to firm trade again this week are supporting the market. Firm boxed beef prices on Friday have also led to ideas that the boxed beef market has bottomed. April is 28 points higher at $88.45.



Lean hog futures are higher at midsession except for the soon to expire February. Improved pork cutout values on Friday have helped improve packer margins. However, cash bids remain steady to lower this morning. April is 55 cents higher at $73.55.