Corn futures are trading slightly lower at midday. Light follow-through technical selling is weighing on the market. The market remains choppy with ideas of a big increase in acreage being countered by strong demand for corn. Look for futures to remain rangebound today. March is 2 cents lower at $3.96 and December is 3/4 of a cent lower at $3.91 3/4.



Soybean futures are higher at midsession. Ideas for a sharp drop in acreage this spring are supporting the market. The March contract broke through resistance at $7.28, but failed to find any follow-through buying. Gains are being limited by lower corn prices and mostly favorable crop conditions in South America. March is 2 1/2 cents higher at $7.24 and November is 1 1/2 cents higher at $7.75 1/2.



Wheat futures are lower at midday. Spillover technical selling from yesterday's decline, weakness in corn, and the prospect for increased world wheat production are weighing on futures. Crop weather remains mostly favorable with improved moisture in the Plains and enough snowcover to protect most of the crop from cold temperatures. CBOT Mar is 2 3/4 cents lower at $4.57 1/2, KCBT Mar is 3 3/4 cents lower at $4.57 1/2, and MGE Mar is 2 cents lower at $4.91 1/2.



Cattle futures are trading higher at midsession. After a lower open, the market has turned higher. Weak beef prices and the lack of cash trade initially weighed on futures, but fund buying has helped pull prices higher. Cold weather forecasts are also providing some underlying support. February is 28 cents higher at $90.10 and April is up 48 cents at $93.38.



Lean hog futures are mostly higher at midday. Cold temperatures that will slow rate of gains are supporting the front end contracts. However, deferreds are mixed on some profit-taking ahead of the weekend after recently setting contract highs. February is 8 cents higher at $64.80 and April is up 20 cents at $67.90.