Corn futures are trading higher at midday. Gains are being attributed to a short-covering bounce following the slide to contract lows the past couple of days. However, fundamentals remain mostly negative with favorable planting conditions this week. July is 2 1/4 cents higher at $2.07 1/4.



Soybean futures are trading lower at midsession. After some initial follow-through buying from yesterday's late rally, prices have turned lower. Warmer temperatures and mostly dry weather in the Midwest this week are expected to help planting progress. July is 1 1/4 cents lower at $6.24 1/4.



Wheat futures are trading higher at midsession. The market is being underpinned by Egypt's recent purchase of U.S. wheat. However, gains are being limited by warmer weather in the winter wheat belts and some needed rain in the southern Plains. CBOT Jul is 1 1/2 cents higher at $3.19 1/4, KCBT Jul is 1 1/4 cents higher at $3.21 and MGE Jul is up 1 1/2 at $3.36.



Cattle futures are being pressured this morning by weaker boxed beef prices and increasing supplies of market ready cattle. Cash trade is expected to decline this week from the $92-$93 last week. June is 35 cents lower at $85.05.



Lean hog futures are mostly higher at midday after testing both sides of steady. Gains are being attributed to a recovery from yesterday's losses and a sharp jump in pork cutouts. Cash markets are generally steady to $1 higher this morning. June is 8 cents higher at $76.65.