Corn futures are trading higher at midday. The market is rebounding from the recent profit-taking setback, with the spot December contract hitting a new 10-year high. Strength in outside markets, weakness in the dollar, and stronger than expected weekly export sales are supportive factors. December is 4 3/4 cents higher at $3.75 and March is 4 3/4 cents higher at $3.90.



Soybean futures are higher at midday. Futures are trying to keep pace with corn as the crops compete for acreage next spring. Census Bureau crush at 161.7 million bushels was within trade expectations while weekly export sales of 26.8 million bushels were at the high end of pre-report estimates. January is 4 1/4 cents higher at $6.86 1/2 and March is 4 1/2 cents higher at $7.00 1/2.



Wheat futures are trading higher at midsession. Lighter than expected deliveries against the December contract and end of the month positioning are supporting the market. Spillover strength from corn, weakness in the dollar, and the potential for some winterkill in the Plains are also bullish factors. CBOT Mar is 8 1/2 cents higher at $5.20, KCBT Mar is 7 3/4 cents higher at $5.49 1/4, and MGE Mar is 7 cents higher at $5.28.



Cattle futures are higher at midday. A snowstorm moving through parts of the Midwest is providing some support. Traders are also covering some short positions at months end. Gains are being limited by negative packer margins and declining boxed beef prices that are expected to push the cash market lower this week. December is 30 cents higher at $85.50 and February is 40 cents higher at $88.80.



Lean hog futures are trading mixed at midsession. A generally weaker tone in the cash market is weighing on the front end. Packer margins have tightened as pork cutout values have fallen. However, end of the month positioning has led to some short-covering support. December is 8 cents lower at $61.18 and February is 20 cents higher at $64.90.