Corn futures are lower at midday. The lack of bullish fundamental news and USDA's forecasts for 2005 corn production at 10.9 billion bushels, which would be the second largest on record, are weighing lightly on the market. March is 1 cent lower at $2.04 3/4.



Soybean futures are trading lower at midday. Consolidation of recent gains is keeping the market in check, but losses are being limited by the warm and dry weather in southern Brazil. USDA is projecting 2005 production to be the second largest on record at 2.9 billion bushels. March is 2 1/4 cents lower at $5.74 1/2.



Wheat futures are trading lower at midsession. The market is lower on technical selling following recent gains. Futures were technically overbought following the short-covering rally early in the week. CBOT Mar is 2 cents lower at $3.14, KCBT Mar is 3 1/2 cents lower at $3.48 and MGE Mar is 1/2 of a cent lower at $3.42 3/4.



Cattle futures are higher at midday. The market is being supported by ideas that cash trade could hold steady this week rather than lose a $1 like previously expected. Traders expect stabilizing beef prices to help cash trade. April is 35 cents higher at $86.45.



Lean hog futures have traded mixed this morning, but are mostly lower at midsession. Weakness is being attributed to futures premium to cash and overbought conditions. Ideas of stronger cutouts next week have helped limit losses. April is 30 cents lower at $75.13.