Corn futures are slightly higher at midsession. Strength in crude oil trade and weakness in the dollar is helping support the market. However, gains are being limited by weekly export sales of 32.8 million bushels falling below trade expectations and generally favorable weather conditions for the crop. September is 1 cent higher at $3.31 3/4 and December is 2 cents higher at $3.38 1/4.



Soybean futures are mixed at midsession. The market rallied to six week highs this morning on strong export demand, weakness in the dollar and higher crude oil prices. Weekly export sales of 37.5 million bushels were above trade expectations and confirmed more business with China. But the market has backed off of gains as of midday and the old-crop Sep contract has turned lower on profit-taking as the gains in the stock market have eroded. September is 3 3/4 cents lower at $10.88 3/4 while November is 1 1/2 cents higher at $10.45 1/2.



Wheat futures are trading lower at midday. The increased world and U.S. production estimates from USDA on Wednesday and ample global wheat stocks are weighing on the market. Further losses are being limited by better than expected weekly export sales of 17.4 million bushels and further weakness in the dollar this morning. CBOT Sep is 6 cents lower at $4.84 1/4, KCBT Sep is 5 3/4 cents lower at $5.13 1/4 and MGE Sep is 10 1/4 cents lower at $5.52 3/4.



Cattle futures are trading mixed at midsession. The market opened higher on ideas of firm cash trade this week and strength in outside markets. But futures turned mixed as the premium of futures to cash and some recent weakness in boxed beef prices trimmed gains. Light cash trade developed in Nebraska on Wednesday at $1-$2 higher than last week on a dressed basis. August is 3 cents lower at $84.40 while October is 15 cents higher at $88.50.



Lean hog futures are higher at midday. Support from outside markets has helped lead a short-covering rally from technically oversold levels. The dollar is lower while the stock market is trading higher. However, cash fundamentals remain generally poor as marketings are ample for packer needs while cutouts fell another $1.34 on Wednesday. August is 90 cents higher at $48.65 and October is 78 cents higher at $44.75.