Corn futures are trading higher at midday. Trade activity is being limited by position evening ahead of the USDA crop report due out on Thursday. The market is looking for USDA to lower their production estimate this month by around 60 million bushels. December is 1 1/2 cents higher at $3.45 and March is 1 1/2 higher at $3.60.



Soybean futures are higher at midsession. Futures have been mixed this morning, with soybeans keeping a close eye on corn. Gains are expected to be limited by pre-report trade expectations for USDA to raise their production estimate on Thursday by about 50 million bushels. November is 3/4 of a cent higher at $6.50 and January is 1 1/4 cents higher at $6.64.



Wheat futures are trading lower at midday. Positioning ahead of the USDA Supply/Demand report and the sluggish pace of U.S. exports are weighing on the market. Speculative buying momentum has slowed despite continued concerns about the tightening stocks of wheat worldwide. CBOT Dec is 2 cents lower at $4.96, KCBT Dec is 3/4 of a cent lower at $5.25 3/4, and MGE Dec is 2 1/4 cents lower at $5.07 1/2.



Cattle futures are higher at midsession. Short-covering is supporting the market following recent weakness. December is at a discount to expected cash sales this week of $87-$88. Packer margins have fallen further in the red given the recent weakness in beef prices. December is 25 cents higher at $85.80 and February is 33 cents higher at $89.18.



Lean hog futures are trading lower at midday. Cash markets are steady to $1 lower as yesterday's $1.04 drop in pork cutouts has pressured packer margins. There is concern that demand will remain sluggish seasonally into Thanksgiving. December is 33 cents lower at $64.20 and February is 38 cents lower at $67.40.