Corn futures are trading lower at midsession. After opening slightly higher, the market turned weaker on profit-taking from yesterday's rally and some pre-weekend hedge pressure. USDA's September 1 stocks number was neutral, coming in right on trade expectations at 1.971 billion bushels. December is 1 cent lower at $2.63 1/4 and March is 1 1/2 cents lower at $2.76.



Soybean futures are lower at midday. After a firm open from USDA's smaller than expected stocks number, the market turned lower. Ideas of increasing harvest activity of what is expected to be a near record crop are weighing on futures. Harvest weather is expected to be generally favorable into the middle of next week. November is 5 1/4 cents lower at $5.47 1/2 and January is 5 3/4 cents lower at $5.61.



Wheat futures are slightly lower at midsession. Profit-taking following yesterday's rally and bearish USDA stocks and production revisions are weighing on the market. September 1 grain stocks of 1.743 billion bushels were 32 million above trade expectations and production was revised to 1.812 billion bushels, up 11 million from last month. CBOT Dec is 1 1/4 cents lower at $4.44 1/4, KCBT Dec is 5 cents lower at $4.90 1/2, and MGE Dec is 4 3/4 cents lower at $4.68.



Cattle futures are lower at midday. After some initial short-covering gains, futures have turned lower as traders wait for the cash market to develop. Steady to firm cash markets are expected compared to last week's $89-$90 trade. October is 33 cents lower at $90.35 and December is 23 cents lower at $89.55.



Lean hog futures are higher at midsession. Steady to firm cash trade again today and positioning ahead of the Hogs and Pigs report due out this afternoon are supporting the market. The trade is looking for all hogs, kept for breeding, and kept for marketing numbers to all be up 1% from year-ago. October is 58 cents higher at $63.13 and December is 25 cents higher at $60.30.