Corn futures are trading lower at midday. Weakness in crude oil and the stock market are weighing on corn futures. However, losses have been trimmed as traders begin to position ahead of the USDA reports due out Tuesday morning. In addition, cool and wet weather in much of the Midwest is delaying some spring fieldwork and could lead to planting delays. May is 1 1/2 cents lower at $3.85 1/2 and December is 1 1/2 cents lower at $4.17 3/4.



Soybean futures are lower at midsession, although losses are smaller than earlier in the trading session as traders even positions ahead of the USDA reports due out Tuesday morning. Stock market and crude oil weakness is bearish for the market as is news that the Argentine farmer strike has ended. May is 11 1/2 cents lower at $9.05 1/2 and November is 15 1/4 cents lower at $8.45 1/2.



Wheat futures are mostly lower at midday. Strength in the dollar, weakness in the stock market and spillover weakness from corn and soybeans are weighing on futures. Precipitation in the HRW wheat belt has helped alleviate some concern about dry conditions. Traders are also beginning to gear up for USDA's Quarterly Stocks and Prospective Plantings reports. CBOT May is 3 cents lower at $5.04 1/4, KCBT May is 1 cent lower at $5.49 and MGE May is 1 1/2 cents lower at $6.06 1/4.



Cattle futures are trading strongly lower at midsession. Sharp losses in the stock market and strength in the dollar are weighing heavily on the cattle market as traders continue to be concerned that the struggling economy will hurt beef demand. Packer margins remain in the red and beef prices continued to decline last week. April is 88 cents lower at $83.45 and June is 95 cents lower at $80.63.



Lean hog futures are mostly lower at midday. The Quarterly Hogs and Pigs report released on Friday afternoon was neutral as it came in near pre-report trade estimates. But outside market weakness is weighing on futures as the stock market is sharply lower and the dollar index is higher. However, the April contract has turned slightly higher on the 26 cent jump in pork cutouts on Friday and ideas that hog supplies will tighten seasonally. April is 13 cents higher at $60.60 while June is 40 cents lower at $71.00.