Corn futures are trading higher at midday, but have been choppy this morning. Bullish technical momentum is supporting prices after some light profit-taking weakness. Harvest was 53% complete as of Sunday, but seasonal harvest pressure is being limited by wet conditions in the eastern Corn Belt that is slowing activity. December is 4 3/4 cents higher at $3.23 and March is 3 1/4 cents higher at $3.33 1/2.



Soybean futures are trading higher at midsession. After some consolidation early, the market has bounced higher. Technical momentum remains positive despite generally bearish supply fundamentals given estimates for a record large crop and ending stocks. November is 3 cents higher at $6.20 1/2 and January is 3 1/2 cents higher at $6.34.



Wheat futures are mixed at midday. After some small profit-taking losses this morning, the CBOT has turned higher. Speculative buying continues to be found on any weakness as tight global stocks remain an underlying supportive factor. CBOT Dec is 6 cents higher at $5.23, KCBT Dec is 1 1/4 cents lower at $5.41, and MGE Dec is 3/4 cent lower at $5.17 1/2.



Cattle futures are mixed at midsession. The market is choppy as traders wait for the cash market to develop later in the week. Selling pressure is being attributed to profit-taking from yesterday's rally while firming beef prices and ideas of higher cash trade is encouraging buying. October is 10 cents higher at $89.45 and December is 20 cents higher at $88.90.



Lean hog futures are lower at midday. Pork cutout values fell 41 cents on Monday as slaughter schedules remain large and pork supplies plentiful. Cash markets are lower again this morning. Losses are being limited by the discount of futures to cash. December is 13 cents lower at $59.90 and February is 15 cents lower at $62.88.