Corn futures are trading lower at midsession. The market is being pressured by bearish fundamentals and the lack of spillover support from soybeans. Global supplies of feed grains are large and export demand is only routine. May is 2 1/2 cents lower at $2.14 1/2.



Soybean futures are lower at midday on a technical setback from the recent rally to six-month highs. Weekend weather in southern Brazil and Argentina remained dry, but forecasts are showing chances for rain this week. May is 7 3/4 cents lower at $6.22.



Wheat futures are lower at midsession. Export news has been rather bearish. The EU is ramping up export subsidies, Egypt bought wheat from France over the weekend, and China's grain chief has said they will import little wheat this year. CBOT May is 5 1/2 cents lower at $3.31 1/2, KCBT May 5 1/2 cents lower at $3.41 1/4 and MGE May is 4 3/4 lower at $3.50.



Cattle futures are trading higher this morning. Spillover momentum from Friday's rally is supporting prices. It appears the ban on Canadian cattle imports could drag on a while and cash markets traded mostly $3 higher last week. April is 8 cents higher at $89.10.



Lean hog futures are trading higher at midday. Steady to higher cash hog markets are supporting the market although futures premium to cash is limiting gains. Pork cutout values were able to move higher on Friday, helping to improve packer margins. April is 58 cents higher at $76.23.