Corn futures are trading higher at midsession. A technical bounce following yesterday's losses and the potential for another round of fund buying are offering support. Traders are also positioning ahead of the Supply/Demand report due out Thursday morning. March is 3 cents higher at $2.21 and May is 2 1/2 cents higher at $2.31.



Soybean futures are higher at midday after a lower open. Position evening ahead of the Supply/Demand report and light technical buying on the recent break are offering support. USDA is expected to raise their ending stocks estimate. March is 3 1/2 cents higher at $5.77 1/2 and May is 2 1/2 cents higher at $5.90 1/2.



Wheat futures are higher at midday. The market is rebounding from yesterday's losses. Traders are expecting word today on the recent Iraqi tender for 1 million tonnes of wheat. Further deterioration of the HRW crop in the Plains remains an underlying supportive factor. CBOT Mar is 3 3/4 cents higher at $3.55 1/2, KCBT Mar is 5 3/4 cents higher at $4.18 3/4 and MGE Mar is 3 1/2 cents higher at $4.05 1/2.



Cattle futures are trading mostly higher at midday. Gains are being attributed to short-covering although buying interest is being limited by weaker boxed beef prices and ideas of lower cash trade this week. The February is being pressured by liquidation ahead of expiration. April is 20 cents higher at $89.98 and June is 30 cents higher at $84.23.



Lean hog futures are higher at midsession. Strength in cash hog prices this week and yesterday's $1.23 jump in pork cutouts are supporting futures. Cash markets were generally $0.50 to $1 higher this morning as packers are still in need of hogs. April is 23 cents higher at $61.98 and June is 23 cents higher at $69.10.