Corn futures are trading slightly lower at midday. The corn market continues to lose ground to soybeans as traders look for a big jump in corn acreage and drop in soybeans this spring. Corn futures are drifting slightly lower with little bullish momentum, but firm crude oil and soybean prices are helping limit losses. May is 1 3/4 cents lower at $4.07 1/2 and December is 2 1/4 cents lower at $4.00 1/2.

Soybean futures are higher at midsession. The market is moving higher on concern of a bigger than earlier expected drop in acreage. Firm energy and metal markets are also supportive. However, expanding harvest progress in South America of the record crops in Brazil and Argentina are limiting gains. May is 2 cents higher at $7.67 and November is 2 cents higher at $8.06.



Wheat futures are mixed but mostly lower at midsession. The market is choppy, but buying interest is being limited by favorable crop prospects for the U.S. and world wheat crops. Weekend rain in the southern Plains should boost soil moisture levels. CBOT May is 1 1/4 cents lower at $4.69 1/2, KCBT May is 1 3/4 cents lower at $4.95 1/2, and MGE May is 1 3/4 cents lower at $5.09.



Cattle futures are trading lower at midday. Profit-taking is being noted after the recent jump to contract highs. However, cash fundamentals remain strong with surging beef prices and tight supplies of market ready cattle expected to help the cash market move higher again this week. April is 48 cents lower at $101.55 and June is 50 cents lower at $97.93.



Lean hog futures are trading higher at midday. The market is being supported by firm cash markets and USDA reporting that January pork exports were up 21 percent from a year-ago. Favorable packer margins should continue to support cash hogs. Gains in the April contract are being limited by the premium to the lean hog index. April is 15 cents higher at $68.10 and June is 53 cents higher at $78.00.