Corn futures are firm at midday. Planting progress is strong at 79% complete, but emergence at 23% is 3% below the five-year average. There is concern about conditions becoming too dry in the eastern Corn Belt. Firm cash markets and spillover from wheat are also supportive. July is 1 3/4 cents higher at $2.09 1/2.



Soybean futures are higher at midsession. Firm cash markets and a slower than expected planting progress last week is offering support. Planting progress at 26% as of Sunday was above the five-year average, but below trade expectations. July is 4 3/4 cents higher at $6.42 1/2.



Wheat futures are trading higher this morning. Speculative buying has been driven by a larger than expected decline in winter wheat condition ratings last week. Although some rain is expected this week, the longer-range forecast for the southern Plains is drier and warmer than normal. CBOT July is 6 3/4 cents higher at $3.20 1/4, KCBT July is 7 3/4 higher at $3.22 and MGE July is 3 3/4 higher at $3.33 1/4.



Cattle futures are mixed at midsession. June is higher due to the discount to the cash market. But most deferred contracts are lower due to declining beef prices. Cash traded mostly at $91 last week and is expected to hold in the $90-$91 area this week. June is 45 cents higher at $85.85.



Lean hog futures are trading lower at midday. Weaker cash markets are weighing on the market. Packers are reducing slaughter this week due to poor margins and tightening supplies of market ready hogs. June is 13 cents lower at $75.00.