Corn futures are trading slightly higher at midsession. Forecasts calling for wet weather next week in the Midwest are slightly supportive as planting progress is already well below normal. Outside market influence is mixed as crude oil is trading lower while the stock market is higher. May is 1/2 of a cent higher at $3.74 1/2 and December is 1/2 of a cent higher at $4.04.

Soybean futures are mixed at midday. Early gains have been trimmed and new-crop is lower at midsession. Old-crop is higher on strong Chinese demand for U.S. soybeans and reports of lower than expected soybean yields in Argentina. New-crop months have turned slightly lower on ideas that corn planting delays could lead to additional soybean acres. May is 4 cents higher at $10.42 while November is 1 1/2 cents lower at $9.29 1/2.

Wheat futures are higher at midsession. Weakness in the dollar, concern about winter wheat production potential and spring wheat planting delays are supporting the market. The extent of the early April freeze on the HRW wheat crop remains an underlying supportive factor. Forecasts call for more rain in the northern Plains, which will further delay spring wheat planting. CBOT May is 3 1/2 cents higher at $5.13, KCBT May is 2 cents higher at $5.65 1/4 and MGE May is 10 3/4 cents higher at $6.44 1/4.

Cattle futures are trading lower at midsession. While boxed beef prices continue to rally, there is concern that beef prices may not be able to hold onto strength over the next couple of months as beef production is expected to increase. However, losses are being limited by expectations for firm cash trade this week and nearly $1.50 jump in beef prices Tuesday. June is 15 cents lower at $83.13 and August is 23 cents lower at $83.33.

Lean hog futures are lower at midday. While the cash market is steady to higher, the futures market is lower on poor packer margins and recent weakness in pork cutout values. The market has been unable to find support from the bullish Cold Storage report Tuesday afternoon. Total pork in storage as of March 31 was below trade expectations and is down 10% of year-ago. June is 83 cents lower at $71.58 and July is 85 cents lower at $72.90.