Corn futures are trading lower at midsession. The mild setback is attributed to technical selling following the recent rally to five-week highs. Weaker cash corn prices were reported in some areas due to light farmer selling. March is 1 3/4 cents lower at $2.08 and May is 1 1/4 cents lower at $2.26.



Soybean futures are lower at midday. The market has pulled back some today following the weak close yesterday after posting three-month highs. Trade activity is expected to slow the rest of the week as traders exit ahead of the holiday weekend. January is 4 3/4 cents lower at $6.00 1/2 and March is 4 cents lower at $6.12 1/2.



Wheat futures are trading lower at midday. Technical selling is weighing on prices following recent gains. The lack of fresh export news and reports that India will not need any wheat imports through May are bearish factors. CBOT Mar is 2 3/4 cents lower at $3.25 1/4, KCBT Mar is 2 1/4 cents lower at $3.72 1/4 and MGE Mar is 2 cents lower at $3.77 1/2.



Cattle futures are lower at midsession. The December contract hit a new high on support from higher cash markets before profit-taking set in. Deferreds are being pressured by expectations for a bearish Cattle on Feed report this Friday. February is 60 cents lower at $96.68 and April is 43 cents lower at $94.60.



Lean hog futures are mixed at midday. Steady to firm cash markets and ideas that cash and pork prices will improve after the holidays are supporting the front end. However, deferreds are being pressured by ideas that the Hogs and Pigs report will show increased hog numbers next week. February is 15 cents higher at $65.30 and April is 23 cents lower at $67.58.