Corn futures are trading slightly higher at midsession. The market is being supported by concerns that some corn yields are being trimmed by light frost. Even if the crop survives the light frost, cooler temperatures will slow crop maturation. As of Sunday, the crop was 37% mature compared to the five-year average of 72%. December is 3 1/2 cents higher at $3.42 1/4 and March is 3 3/4 cents higher at $3.55.

Soybean futures are lower at midday. Expectations for a record soybean crop are weighing on the market despite concerns that lagging crop maturity and cool temperatures will trim yields in some areas. Light frost was noted overnight, but crop damage so far expected to be limited. November is 1 3/4 cents lower at $9.17 1/4 and January is 1 3/4 cents lower at $9.22 3/4.

Wheat futures are trading lower at midsession. The market is being pressured by strength in the dollar, as a firm dollar is a negative for export demand. Export sales are already sluggish and world wheat supplies remain large. It was reported this morning that Egypt bought Russian wheat in a recent tender, buying none from the U.S. CBOT Dec is 2 cents lower at $4.53 3/4, KCBT Dec is 3 cents lower at $4.72 and MGE Dec is unchanged at $4.88 1/4.

Cattle futures are trading lower at midday. Strength in the dollar and sluggish demand for beef are weighing on the market. Boxed beef prices were higher on Monday, but in light volume. Losses are being limited by further strength in the lean hog futures market. October is 43 cents lower at $85.68 and December is 38 cents lower at $85.40.

Lean hog futures are higher at midsession. Follow-through buying from Monday and strength in pork cutout prices yesterday are providing support. Cash markets are expected to be mostly steady today as some packers need hogs for filling slaughter schedules later in the week. October is 53 cents higher at $50.40 and December is 60 cents higher at $50.33.

Cotton futures are trading strongly lower at midday. Fund selling is weighing heavily on prices amid strength in the dollar and weakness in the stock market. December cotton is 150 points lower at 61.40 cents at midsession.