Corn futures are trading steady to fractionally higher at midsession. The market has been choppy as traders continue to consolidate recent losses. Strong demand for corn and firm cash markets are being countered by favorable weather and ideas that the crop will be larger than USDA's August number. September is 1/4 of a cent higher at $2.21 3/4 and December is 1/4 cents higher at $2.38 1/4.



Soybean futures are steady to fractionally lower at midday. Trade remains choppy as favorable Midwest weather limits buying interest despite supportive weekly export sales and technically oversold conditions. Scattered showers and moderate temperatures are expected to continue the next couple of weeks over the Midwest. September is 1/4 of a cent lower at $5.52 and November is unchanged at $5.65.



Wheat futures are trading slightly higher at midsession. A mild technical bounce is being seen at the CBOT following yesterday's losses. The KCBT has followed through slightly on yesterday's gains, but are being limited by some much needed rain in the central Plains. Weekly export sales were only in the middle of trade expectations. CBOT Sep is 1 3/4 cents higher at $3.73 1/4, KCBT Sep is 1 1/4 cents higher at $4.53 1/2 and MGE Sep is 1 3/4 cents higher at $4.52 1/2.



Cattle futures are trading mixed at midday. The December contract pushed to a new high this morning as buy stops were triggered in the front months. But as buying interest faded, profit-taking trimmed gains. Cash markets are expected to be firm this week, but futures premium to cash and ideas that beef prices are topping are bearish concerns. October is 35 cents higher at $92.15 and December is 5 cents lower at $90.90.



Lean hog futures are higher at midsession as front end contracts have rallied to new highs. Follow-through strength and steady to firm cash prices are supporting the market. Packer margins have turned positive and plants especially in the western Corn Belt need hogs to fill slaughter needs. October is 58 cents higher at $65.35 and December is 23 cents higher at $62.40.