Corn futures are slightly lower at midsession. Fund liquidation continues to be a bearish factor, but choppy trade is expected ahead of the Prospective Plantings report due out on Thursday morning. May is 1/2 of a cent lower at $2.10.



Soybean futures are trading lower this morning. A rally in the value of the dollar has kept fund buying at bay. Many traders are expected to be on the sidelines ahead of the Prospective Plantings report due out on Thursday morning. May is 4 3/4 cents lower at $6.24.



Wheat futures are lower at midday. The market is being pressured by sluggish export demand and a firming dollar. The dollar has pushed to a six-week high, which will make U.S. supplies less competitive on the world market. CBOT May is 1/2 of a cent lower at $2.10, KCBT May is 5 1/4 lower at $3.43 1/4 and MGE May is 6 1/4 cents lower at $3.51 1/2.



Cattle futures are trading higher at midsession. The better than expected cash market last week is supporting futures. Also, Taiwan is planning to lift their ban on U.S. beef imports on April 16. Taiwan was the sixth largest customer before suspending import in December 2003. April is 120 points higher at $89.55.

Lean hog futures are trading mostly higher at midday. The front end is slightly lower due to a weak tone in the cash market, but deferreds are mostly higher on spillover support from pork bellies and slightly supportive Hogs and Pigs numbers. April is 60 cents lower at $69.70.