Corn futures are trading strongly lower at midday. The market is being pressured by technical selling after rallying to new highs last week, spillover weakness from the crude oil market, and talk that USDA may make it easier to take land out of CRP. March is 11 3/4 cents lower at $3.75 1/4.



Soybean futures are lower at midsession. Soybeans are following corn lower but are also being pressured by outside markets such as crude oil and gold. The U.S. supply/demand balance sheet is already bearish and South American planting and early season growing conditions have been generally favorable. January is 14 1/2 cents lower at $6.62 1/2 and March is 15 cents lower at $6.77.



Wheat futures are trading lower at midday. Weakness in corn and soybeans are weighing on the market as traders are following through on the lower close Friday. Quiet export markets over the weekend and heavy deliveries against the CBOT Dec contracts are also bearish factors. CBOT Mar is 7 1/4 cents lower at $5.13 1/2, KCBT Mar is 10 1/2 cents lower at $5.35, MGE Mar is 8 1/2 cents lower at $5.20.



Cattle futures are slightly higher at midsession. Cold weather over much of the country is supporting futures on ideas of slower weight gains. Cash cattle traded late last week at mostly $86, which was down $1-$2 from the previous week but was right on market expectations. December is 35 cents higher at $85.85 and February is 45 cents higher at $89.55.



Lean hog futures are strongly lower at midday. Long liquidation and fund selling pushed futures lower despite talk of firm cash trade this week. Cash markets are mostly steady today, but packers may have to raise bids later this week to get enough hogs to fill slaughter schedules. December is 60 cents lower at $60.53 and February is 85 cents lower $63.58.