Corn futures are trading higher at midday. Strength in crude oil and weakness in the dollar are providing support to the market. Hot and dry weather in Argentina, the world's second largest corn exporter, is stressing the crop. However, forecasts call for some much needed rainfall this week. March is 2 cents higher at $4.14 1/4 and July is 2 1/4 cents higher at $4.34 3/4.



Soybean futures are higher at midsession, although gains have been trimmed. Strength in crude oil and weakness in the dollar are supportive, although soybeans have pulled back as has crude oil and as losses in the dollar have been trimmed. Weather remains a threat to the crop in some areas of South America, although Argentina is expected to receive some much needed rainfall this week. January is 6 cents higher at $9.57 3/4 and March is 8 1/2 cents higher at $9.65 1/4.



Wheat futures are posting strong gains at midday. Outside markets are providing support as is Pakistan's tender for 250,000 tonnes of white wheat from the U.S. only. Weakness in the dollar should help U.S. wheat be competitive on the world market for an expected export tender by Saudi Arabia in January. Gains are being limited by weekly export inspections of only 3.5 million bushels. CBOT March is 11 cents higher at $6.10 1/4, KCBT March is 14 3/4 cents higher at $6.31 and MGE March is 12 1/4 cents higher at $6.65 1/4.



Cattle futures are trading higher at midsession. The market is rebounding from the sharp losses on Friday. Meat imports to Mexico from 30 U.S. packing plants remain suspended, but most analysts believe the trade disruption will be short-lived. Boxed beef prices have not been quoted since last Wednesday, when prices were higher. February is 68 cents higher at $86.78 and April is 75 cents higher at $89.60.



Lean hog futures are mostly higher at midday. Contracts through June 2009 are higher as the market rebounds from the losses last Friday. Traders expect the trade disruption with Mexico to be short-lived. However, futures premium to cash and weakness in the cash market are limiting gains. February is 30 cents higher at $59.25 and April is 78 cents higher at $67.50.