Corn futures are trading higher at midsession. The market is making a small technical rebound following recent losses. Spillover support is also coming from wheat. Gains are being limited by additional precipitation in the Midwest that will help improve dry soil conditions ahead of planting. May is 2 1/2 cents higher at $2.20 3/4 and Dec is 1 1/4 cents higher at $2.51 3/4.



Soybean futures are higher at midday. Light support is coming from short-covering following yesterday's drop to 3 1/2 month lows. Bearish fundamentals are limiting gains as U.S. stocks are record large and South American harvest progress is expanding. May is 1 1/4 cents higher at $5.73 3/4 and Nov is 1 3/4 cents higher at $6.03.



Wheat futures are firm at midsession. The market is bouncing from recent losses that were generated from much needed rainfall in the central and southern Plains. The crop will need more rainfall to produce decent yields and forecasts show a return to warm and dry weather. CBOT May is 1 1/4 cents higher at $3.51 1/2, KCBT May is 1 1/2 cents higher at $4.15 1/4 and MGE May is 2 3/4 cents higher at $4.02 1/2.



Cattle futures are slightly higher at midday. Snow in the Plains and reports of slightly smaller showlists are supportive. Cash trade could hold firm or trade slightly higher than last week. Gains are being limited by ideas that Friday's Cattle on Feed report will be bearish. April is 8 cents higher at $83.43 and June is 8 cents higher at $78.20.



Lean hog futures are trading lower at midsession. Ample hog supplies and declining pork prices are weighing on the market. Snow in the Midwest is expected to back hogs up for later in the week, keeping the cash market tone lower. April is 40 cents lower at $58.60 and June is 70 cents lower at $64.83.