Corn futures are sharply higher at midday. The rally in crude oil and the stock market has helped push corn futures higher. In addition, there are ideas that the conflict with the Argentine government and farmers could disrupt export markets following the drought reduced crop. May is 12 3/4 cents higher at $3.63 1/4 and December is 13 cents higher at $3.93 3/4.



Soybean futures are trading strongly higher at midsession. Outside market strength has spilled over into the soybean pit. Crude oil is up over $3 and the stock market is posting solid gains. The conflict between the Argentine government and farmers remains supportive as the problems may lead to export disruptions. There is talk that China has purchased 3 cargoes of U.S. soybeans. May is 18 cents higher at $8.71 1/2 and November is 26 3/4 cents higher at $8.18.



Wheat futures are strongly higher at midday. The technical bounce is being attributed to outside market strength, spillover support from corn and soybeans, and dry conditions in the southern Plains. Forecasts show no significant precipitation in the southern Plains over the next week to ten days. CBOT May is 19 1/2 cents higher at $5.21 1/4, KCBT May is 16 3/4 cents higher at $5.62 and MGE May is 15 1/4 cents higher at $6.04 1/2.



Cattle futures are trading higher at midsession. Strength in the beef market and the rebound in the stock market are providing support. Choice and select beef prices were up around $1.50 yesterday. Cash markets are expected to be firm this week as beef prices rally and as cattle supplies tighten. April is 73 cents higher at $84.95 and June is 83 cents higher at $83.28.



Lean hog futures are strongly higher at midday. Cash market strength and the rebound in the stock market have helped spur the short-covering rally. Pork prices were up 70 cents on Tuesday. Packers are expected to ramp up Saturday slaughter schedules, which should be supportive for the cash market the next couple of days. April is $1.40 higher at $62.25 and June is $1.68 higher at $73.45.