Corn futures are trading a little lower at midsession. The lack of bullish momentum and the potential for further fund selling are weighing on the market. The market was slightly higher early in the session on some short-covering following the recent drop to two month lows. March is 1 cent lower at $3.53 1/2 and December is 2 3/4 cents lower at $3.55 1/4.

Soybean futures are trading slightly lower at midday. The market is being pressured by fund selling and concern about further selling by the funds. Large U.S. stocks and rising production estimates in South America remain negative fundamental factors. March is 6 cents lower at $6.58 1/2 and November is 4 1/4 cents lower at $7.10.

Wheat futures are lower at midsession. Technical weakness and continued concern about fund selling are weighing on the market. However, losses are being limited by positioning ahead of the USDA reports due out on Friday morning. CBOT Mar is 3 3/4 cents lower at $4.49 1/4, KCBT Mar is 4 cents lower at $4.67 1/2, and MGE Mar is 4 1/2 cents lower at $4.69.

Cattle futures are trading higher at midday. The market is being supported by rising beef prices and forecasts for another winter storm and cold weather to hit the Plains. The weather could disrupt marketing along with stressing cattle and slowing rate of gains. February is 85 cents higher at $93.15 and April is 38 cents higher at $94.15.

Lean hog futures are mostly higher at midday. Short-covering is supporting the market on ideas of a larger slaughter on Saturday. Futures are trading higher despite a steady to $1 lower cash market, concern about a backlog of market ready hogs, and weakening pork cutout values. February is 95 cents higher at $60.70 and April is 65 cents higher at $63.70.