Corn futures are trading lower at midsession. Recent rainfall that has improved the prospects for the 2006 crop and smaller than expected weekly export sales are weighing on the market. Sales of 35.9 million bushels were 19% below the four-week average. May is 1 1/2 cents lower at $2.21 and December is 1 1/4 cents lower at $2.52 1/2.



Soybean futures are lower at midday. Disappointing weekly export sales and bird flu concerns are pressuring prices. Soybean sales were only 8.6 million bushels and rumors that a duck in Mexico may have had bird flu are making the rounds. May is 2 3/4 cents lower at $5.74 1/4 and November is 3 cents lower at $6.02 1/4.



Wheat futures are trading lower at midday. Spillover weakness from corn and soybeans and beneficial precipitation in the Plains are weighing on the market. Forecasts call for chances of more rain in the Plains this weekend. Weekly export sales were within trade expectations, but not strong enough to offer support. CBOT May is 3 1/2 cents lower at $3.45 3/4, KCBT May is 5 1/4 lower at $4.11 3/4 and MGE May 7 1/2 cents lower at $3.97 1/2.



Cattle futures are narrowly mixed at midsession. June slipped to a new low this morning. Cash trade developed at mostly steady money yesterday. However, weaker beef prices and ideas of a bearish Cattle on Feed report to be released Friday are limiting buying interest. April is 3 cents higher at $83.00 and June is 3 cents lower at $77.50.



Lean hog futures are mixed at midday, with April trading lower. Cash markets are mostly steady today, but with pork cutouts down $1 yesterday there is not much optimism for near-term improvement. Deferreds are higher on light short-covering. April is 85 cents lower at $56.35 and June is 35 cents higher at $65.90.