Corn futures are trading slightly higher at midsession, but have been choppy this morning. Buying interest has been limited, but support is coming from ideas of smaller corn acreage in the U.S. this year and lowered projections for Argentina's corn crop. March is 3/4 of a cent higher at $2.09 and May is 3/4 of a cent higher at $2.19.



Soybean futures are trading lower at midday. The lack of fresh news has the market trading mixed this morning. Prospects for higher acreage this spring and large stock levels are weighing on the market. Losses are being limited by concern about hot and dry conditions returning to Argentina. March is 3 1/2 cents lower at $5.71 and May is 3 3/4 cents lower at $5.81 1/4.



Wheat futures are trading firm at midday. A technical bounce is supporting the market with little fresh market moving news. Dry conditions and crop concerns in the southern Plains are offering underlying support. CBOT Mar is 2 1/4 cents higher at $3.28 1/4, KCBT Mar is 2 cents higher at $3.82 and MGE Mar is 1 1/4 cents higher at $3.89.



Cattle futures are lower at midsession. Concern about negative packer margins and Japan's ban on U.S. beef imports are bearish factors. However, losses are being limited by ideas of higher cash trade this week although the market is looking toppy. February is 20 cents lower at $95.38 and April is 25 cents lower at $93.70.



Lean hog futures are trading lower at midday. Fund selling and worse than expected cash trade this morning are weighing on the market. Traders were looking for mostly higher trade in the Midwest, but mostly steady bids were noted. February is 80 cents lower at $58.30 and April is 98 cents lower at $62.80.