Corn futures are trading lower at midsession. The market is giving back some of the short-covering gains posted last week. Spillover weakness from soybeans and only routine export business is also weighing on futures. March is 3 cents lower at $2.04 3/4.

Soybean futures are trading moderately lower at midday. Futures are pulling back from last week's gains. Soft gulf basis bids and some needed rain in parts of South America are also negative factors. March is 9 3/4 cents lower at $5.37 1/2.

Wheat futures are lower at midsession. Spillover weakness from corn and soybeans along with relatively sluggish export demand is weighing on the market. Weather forecasts are generally non-threatening for the winter wheat crop. CBOT Mar is 4 1/2 cents lower at $3.03, KCBT Mar is 5 1/2 cents lower at $3.32 1/2 and MGE Dec is 4 1/2 cents lower at $3.41 1/2.

Cattle futures are higher at midday. Ideas that the confirmed BSE case in Canada may delay cattle imports are supporting the market even though USDA has said it won't affect reopening the border. Also, weather in the Plains feedlot areas could stress cattle operations. February is 73 cents higher at $88.55.

Lean hog futures are trading higher at midsession. Bullish momentum and weather reduced marketings that are supporting cash bids have helped rally the futures market. February is 45 cents higher at $76.85.