Corn futures are trading lower at midsession. Weakness in crude oil and further losses in the stock market are weighing on corn prices. Planting progress has been on a record pace and rain this weekend and next week will benefit the crop. But losses are being limited by recent improvement in corn export demand and some concern about potential frost damage in the upper Midwest on the newly emerged crop. July is 2 1/4 cents lower at $3.69 and December is 2 1/2 cents lower at $3.82 1/4.   


 


Soybean futures are higher at midday. Short-covering following the strong losses on Thursday are supporting prices. Traders are also evening positions ahead of the weekend and the Supply/Demand report due out next week Tuesday. But gains are being limited by weakness in crude oil and the stock market. July is 3 1/2 cents higher at $9.57 1/2 and November is 4 1/2 cents higher at $9.33 1/4.    


 


Wheat futures are mostly lower at midsession. Further weakness in the stock market and generally bearish fundamentals are weighing on futures. Wheat supplies are abundant globally and demand for U.S. wheat remains sluggish. Underlying support is coming from the already large short position held by the funds. CBOT July is 2 cents lower at $5.06 1/4, KCBT July is 2 1/4 cents lower at $5.17 1/4 and MGE July is 1 cent lower at $5.36.  


 


Cattle futures are trading mostly lower at midday. June losses are being limited by the firm cash trade earlier this week, higher beef prices and the discount of futures to cash. Deferreds are lower on concern about economy. The stock market is down strongly again this morning and recent strength in the dollar could reduce demand for beef. June is 8 cents lower at $85.78 and August is 55 cents lower at $93.90.


 


Lean hog futures are trading mostly higher at midsession. The market is being supported by strength in pork cutout values on Thursday and short-covering from the strong losses yesterday. But gains are being limited by further weakness in the stock market this morning. Recent strength in the dollar could hurt export demand for pork. June is 70 cents higher at $84.80 and July is 40 cents higher at $85.05.