Corn futures are trading higher at midday. Spillover support from soybeans, strength in the stock market, and weakness in the dollar are supportive factor. Further gains are being limited by weakness in crude oil, although losses in crude oil have moderated from overnight trade. May is 8 cents higher at $3.96 1/2 and December is 8 1/4 cents higher at $4.26 1/4.



Soybean futures are sharply higher at midsession. The soybean/corn ratio is being corrected this morning as the crops bid for acreage this spring. NOPA crush for February reported this morning was strong at 128.7 million bushels compared to pre-report trade estimates of 125.3 million. May is 34 cents higher at $9.10 1/2 and November is 27 cents higher at $8.50 3/4.



Wheat futures are strongly higher at midday. Weakness in the dollar and firm equities are supporting the market. In addition, dry conditions in the Plains remain a bullish concern. The area received light precipitation over the weekend, but no significant rain is in the forecast for this week. CBOT May is 25 cents higher at $5.43 1/4, KCBT May is 15 1/2 cents higher at $5.85 1/2 and MGE May is 17 cents higher at $6.26 1/4.



Cattle futures are trading higher at midsession. Strength in the stock market and weakness in the dollar is support most commodity markets including cattle. Packer margins remain negative, but there is some optimism that seasonally improving demand will push beef prices higher, which should support the cash market as cattle supplies are tightening. April is 33 cents higher at $84.98 and June is 28 cents higher at $82.38.



Lean hog futures are lower at midday. Profit-taking on the rally to one-month highs in the April contract last week and recent weakness in the cash market are weighing on futures. Packer margins remain poor despite the 85 cent jump in pork cutouts on Friday. Pork prices have rallied to three month highs. April is 25 cents lower at $62.95 and June is 3 cents lower at $74.20.