Corn futures are trading fractionally higher at midday. Light buying has been prompted by technically oversold conditions. However, gains are being limited by mostly favorable planting conditions so far this spring and sluggish export demand. May is 3/4 of a cent higher at $2.06 1/2.

Soybean futures are trading mixed at midsession. The higher close on Monday and firm cash markets are supporting the May contract. However, volume is thin and the market is expected to remain choppy today. May is 4 1/4 cents higher at $6.21.

Wheat futures are mixed at midday. Gains are being limited by the USDA raising winter wheat condition ratings to 70% good to excellent, up 2% from the previous week. The lack of export business overnight has also limited buying interest. CBOT May is 1 1/4 cents lower at $3.12 1/4, KCBT May is 1 1/4 cents higher at $3.21 3/4 and MGE May is 2 1/4 cents lower at $3.26.

Cattle futures are trading higher this morning. The discount of futures to cash has led to some speculative buying this morning. Cash trade is expected to be near steady this week with the $90 trade in the southern Plains last week. April is 73 cents higher at $88.75 and June is 83 cents higher at $84.50.

Lean hog futures are trading mixed at midsession. Higher cash hog trade this morning is supporting the April contract, but deferreds are mixed in choppy trade. Summer month contracts are at a strong premium to the current cash prices. April is up 53 cents at $69.50 and May is down 38 cents at $76.20.