Corn futures are trading slightly lower at midsession. Weak crude oil prices and forecasts for improved weather for corn planting progress next week are weighing slightly on the market. However, losses are being limited by a supportive weekly export sales report and recent rainfall in the southern and eastern Corn Belt that has slowed planting this week. July is trading 1/2 of a cent lower at $4.26 and December is 1/4 of a cent lower at $4.47.

Soybean futures are higher at midday. The market is being supported by the weekly export sales and NOPA crush reports. Weekly export sales were above trade expectations and shipments were ahead of pace to reach USDA's recently revised higher export forecast. China bought 120,000 tonnes of U.S. soybeans for 2009/10 delivery. NOPA crush for April was pegged at 134.1 million bushels, up 2 million from the average trade estimate. July is 8 cents higher at $11.36 and November is 5 1/2 cents higher at $9.87.

Wheat futures are mostly lower at midday. Winter wheat markets are being pressured by sluggish export demand and big global supplies of wheat. Weekly export sales reported this morning were below trade expectations and shipments fell well short of the pace needed to reach USDA's export forecast. However, the MGE is firm on concern about continued planting delays in the spring wheat belt. CBOT July is 2 cents lower at $5.86 3/4, KCBT July is 3/4 of a cent lower at $6.37 1/4 while MGE Jul is 4 1/4 cents higher at $7.17 1/2.

Cattle futures are trading slightly higher at midsession. Light fund buying is supporting the market as expectations are for the cash market to trade $1 higher this week. However, gains are being limited by concern about the economy and ideas that beef prices may be topping as wholesaler demand will soon fade as Memorial Day orders are filled. June is 30 cents higher at $82.80 and August is 3 cents higher at $82.85.

Lean hog futures are lower at midday. Expectations for seasonal weakness to develop soon in the cash market and future's premium to cash are bearish factors. Cash markets and pork cutout values have been moving higher, but packer margins have turned negative as pork cutout values have not kept pace with the rise in the cash market. June is 45 cents lower at $67.50 and October is 40 cents lower at $65.05.