Corn futures are trading slightly lower at midsession. The market has stalled with little new short-covering interest today. Technical resistance just above the market is a limiting factor. March is 1/2 of a cent lower at $2.00.



Soybean futures are slightly higher at midday, but have traded mixed this morning. Fund short-covering remains a supportive factor, but futures are nearing technical overbought levels. NOPA crush for January fell within trade expectations. March is 1 1/2 cents higher at $5.37 1/4.



Wheat futures are lower at midsession. Losses are being attributed to a correction from yesterday's rally. While it appears that the market has put lows in, gains will be limited by stiff global competition. CBOT Mar is 1 1/2 cents lower at $3.00 1/4, KCBT Mar is 1 cent lower at $3.34 1/2 and MGE Mar is 4 3/4 cents lower at $3.40.



Cattle futures are mixed at midday. The market is waiting for cash trade to develop for further direction. Weaker beef prices and ideas of steady to lower cash trade have kept the nearby on the defensive. February is 35 points lower at $90.50 and April is steady at $86.95.



Lean hog futures are trading lower this morning. Futures premium to cash and weaker pork cutout prices on Monday are weighing on the market. Pork bellies are sharply lower as large slaughter levels add to supplies. April is 18 cents lower at $72.40.