Corn futures are steady to fractionally lower at midsession. The corn market is quiet after slipping to new contract lows yesterday. Strong planting progress and favorable rainfall in the Corn Belt is keeping the market on the defensive. July is 1/4 of a cent lower at $2.04.

Soybean futures are trading lower at midday. Fund selling and technical weakness continues to weigh on the market. Fundamentally, good planting progress the first part of the week and forecasts for rainfall in the eastern Midwest are negative factors. July is 5 3/4 cents lower at $6.17 3/4.

Wheat futures are lower at midsession. Follow-through selling from recent weakness and favorable rainfall in the hard red winter wheat belt is pressuring prices. Strength in the dollar is also a bearish factor as it will make exports less competitive. CBOT July is 3 1/4 cents lower at $3.05 1/2, KCBT July fell 3 cents to $3.10 3/4 and MGE July is 2 lower at $3.23.

Cattle futures are mixed at midday. Contract highs were set early in the August and December contracts. The market is waiting for cash trade to develop in the southern Plains. Profit-taking ahead of the weekend could weigh on futures ahead of the close. June is 13 cents higher at $86.93.

Lean hog futures are trading lower this morning. Despite steady to firm cash bids, futures have turned lower. Concern that cash market strength will be short-lived next week has contributed to the weakness. June is 75 cents lower at $75.75. July and August are down over $1.