Corn futures are trading firm at midday. The market has rallied on solid weekly export sales and spillover support from soybeans and outside markets. Gains are being limited by positioning ahead of the Friday morning USDA reports and recent rain in the Corn Belt that has improved soil moisture levels. May is 2 3/4 cents higher at $2.27 and December is 2 cents higher at $2.58 3/4.



Soybean futures are higher at midsession. Fund buying has been noted on spillover from rising gold and silver prices. Gains are being limited by caution ahead of the USDA reports due out on Friday and weekly export sales coming in near the low end of trade expectations. May is 5 cents higher at $5.87 1/2 and November is 4 cents higher at $6.14 1/4.



Wheat futures are trading higher at midday. Strength in outside markets such as gold and silver has triggered fund buying interest this morning. Export sales were viewed as routine. Gains are being limited by light rainfall in the Plains and forecasts for some rain next week. CBOT May is 3 1/4 cents higher at $3.45, KCBT May is 4 1/4 cents higher at $4.10 3/4 and MGE May is 3 1/4 cents higher at $3.99.



Cattle futures are higher at midsession. Gains in the April contract are limited by weaker cash markets yesterday, but short-covering from oversold conditions is supporting futures. Cash trade developed at mostly $84 yesterday, down $2 from the previous week. April is 15 cents higher at $80.78 and June is 50 cents higher at $75.25.



Lean hog futures are steady to lower midday. Traders are positioning for the Quarterly Hogs and Pigs report due out on Friday where expectations are for expansion of the hog herd. Large supplies of pork and competing meats remains a bearish factor. April is steady at $57.50 and June is 5 cents lower at $66.20.