Corn futures are trading lower at midday. Strength in the dollar and profit-taking from Thursday's rally are weighing on the market. However, crop concerns continue to underpin prices. Planting delays in the eastern Corn Belt will hurt yield potential and will likely push some acreage intended for corn to soybeans. July is 4 1/2 cents lower at $4.44 and December is 4 1/4 lower at $4.67 1/4.



Soybean futures are lower at midsession. After the strong rally on Thursday, traders were taking some profits amid the lack of fresh bullish news. Bearish news includes strength in the dollar and the weekly export sales report on Thursday showing canceled sales by China. New-crop is leading the losses on concern about some acreage intended for corn being switched to soybeans. July is 4 1/2 cents lower at $12.25 1/2 and November is 11 1/2 cents lower at $10.70.



Wheat futures are trading lower at midday. Profit-taking ahead of the weekend is weighing on futures following the gains on Thursday. Strength in the dollar is also bearish as it is negative for the export market. Weather conditions are generally favorable for winter wheat harvest in the southern Plains and crop development further north. CBOT July 10 1/2 cents lower at $6.24 3/4, KCBT July is 10 3/4 cents lower at $6.79 1/4 and MGE July is 8 1/4 cents lower at $7.53.



Cattle futures are mostly higher at midsession. Gains are being attributed to the firm stock market and active beef sales on Thursday. While boxed beef prices were lower, the active sales may help beef prices recover soon. The job loss data released this morning was not as bad as expected, which is a positive for beef demand. June is 5 cents higher at $80.08 and August is 28 cents higher at $81.28.



Lean hog futures are higher at midday. Short-covering is supporting the market after hitting new contract lows the previous five sessions. Strength in pork cutouts yesterday of $1.89 was also supportive. There is optimism that Russia will soon lift their ban on some U.S. meat imports. July is 3 cents higher at $60.60 and October is 63 cents higher at $61.85.