Corn futures are trading firm at midday. Spillover support from soybeans and a private firm's estimate calling for smaller corn acreage this year are supportive factors. Also, USDA confirmed an export shipment of 118,000 tonnes of U.S. corn to an unknown destination. March is 1 cent higher at $2.06 and May is 3/4 of a cent higher at $2.15 3/4.



Soybean futures are higher at midsession. Gains are being attributed to technical buying and follow-through from the bounce on Friday. Recent losses had pushed the market to technically oversold levels. Despite recent rainfall, a warm and dry forecast for Argentina is a concern for soybean production. March is 4 1/2 cents higher at $5.72 1/2 and May is 5 1/2 cents higher at $5.83 1/4.



Wheat futures are trading higher at midday. Weakness in the dollar that will make wheat more competitive on the world market and continued weather problems in the southern Plains are supportive. However, gains are being limited by forecasts for some rain in the Plains and the recent slow pace of export demand. CBOT Mar is 1 cent higher at $3.27 1/2, KCBT Mar is 1/4 of a cent higher at $3.84 1/4 and MGE Mar is 1 3/4 cents higher at $3.91 1/2.



Cattle futures are higher at midday. Expectations for higher cash cattle prices this week and ideas that the U.S. will ban Canadian cattle imports following reports of a mad cow case in Canada are supportive. Gains are being limited by the slightly bearish Cattle on Feed report and Japan's reimposed ban on U.S. beef imports. February is 28 cents higher at $96.05 and April is 18 cents higher at $94.30.



Lean hog futures are trading lower at midsession. Concern over shrinking packer margins are weighing on futures despite mostly higher cash hog prices. Strength in the cash market is not expected to hold up this week unless cutout values improve. February is 70 cents lower at $58.55 and April is 60 cents lower at $63.30.