Corn futures are trading lower at midday. The lack of fresh fundamental news has left the market to drift lower after futures fell below technical support on Thursday. Losses are expected to be limited ahead of the planting season and the Prospective Plantings report in two weeks. May is 1 1/2 cents lower at $2.23 and December is 1 1/2 cents lower at $2.54 1/4.



Soybean futures are steady to lower at midsession. Initial gains were attributed to a small technical bounce from recent weakness that has pushed prices to the lowest level in two months. However, bearish fundamentals limited buying and has pushed prices slightly lower. May is 1/2 of cent lower at $5.75 3/4 and Nov is 1/4 of a cent lower at $6.04 1/4.



Wheat futures are higher at midday on short-covering ahead of the weekend. Rain is still forecast for the central Plains, but the HRW crop will need several more good rains to be salvaged and the NWS is predicting dry conditions the next three months in the Plains. CBOT May is 2 1/4 cents higher at $3.55, KCBT May is 3 1/4 cents higher at $4.17 and MGE May is 3 1/2 cents higher at $4.06.



Cattle futures are mostly higher at midsession. The market has found light support on oversold ideas and the reversal from contract lows on Wednesday. However, gains are being limited by bearish fundamentals and the lack of significant cash trade so far this week. April is 13 cents higher at $83.55 and June is unchanged at $78.55.



Lean hog futures are trading slightly lower at midday. The premium of the April and June contracts to the lean hog index has pushed prices lower despite an initial short-covering bounce. Traders are concerned that cash prices could slip again next week. April is 3 cents lower at $58.40 and June is 3 cents lower at $66.65.