Corn futures are trading higher at midday. The surge in wheat led to some fund buying in the corn pit. Initial gains have been trimmed on generally favorable weekend harvest progress and forecasts for open weather most of this week. Strong demand from exports, ethanol and feed remains the underlying supportive fundamental factors for corn. December is 4 3/4 cents higher at $2.67 1/4 and March is up 4 3/4 cents at $2.80.



Soybean futures are higher at midsession, but have backed off of early highs. The surge in wheat and outside markets such as gold provided early support. However, expectations for a big jump in harvest progress this week and generally bearish supply/demand fundamentals have limited gains. November is 1 3/4 cents higher at $5.49 1/4 and January is up 1 3/4 cents at $5.64.



Wheat futures are trading higher at midday, but have backed off of the highs for the day. Fund buying was supportive following the technical chart strength last week. Shrinking global stocks remains the big supportive fundamental factor. However, so far this marketing year demand for U.S. wheat has been sluggish. CBOT Dec is up 7 1/2 cents at $4.50 1/2, KCBT Dec is 6 cents higher at $5.02, and MGE Dec is 9 3/4 cents higher at $4.78 1/2.



Cattle futures are strongly higher at midsession. The market is being supported by better than expected cash trade late on Friday at mostly $91-$92. Boxed beef prices are firming, but packer margins remain negative. Speculative selling has limited further gains in futures so far today. October is 88 cents higher at $91.53 and December is up 73 cents at $90.58.



Lean hog futures are trading mixed at midsession. Strength in cattle and steady to firm cash trade are offering the market some support. However, gains are being limited by the slightly bearish Hogs and Pigs report released Friday afternoon that indicated further expansion in hog numbers. October is 8 cents higher at $63.70 and December is 25 cents lower at $60.60.