Corn futures are trading firm at midsession. Speculative buying is leading futures higher as traders are anticipating index-fund buying after the first of the year. Another strong weekly export sales report released this morning is also providing support. March is 3 3/4 cents higher at $3.76 1/2 and December is 2 1/4 cents higher at $3.67 1/4.



Soybean futures are higher at midday. The market is being supported by firm corn prices and neutral to slightly bullish export sales and crush reports. Weekly export sales of 27.3 million bushels were at the high end of trade expectations and Census crush of 155 million bushel was in line with pre-report estimates. January is 4 1/4 cents higher at $6.52 1/2 and November is 3 cents higher at $7.10 1/2.



Wheat futures are trading higher at midday. Spillover support is coming from the gains in corn and soybeans. However, buying interest is being limited at the KCBT due to improved moisture in the Plains. Weekly export sales were neutral this morning at 16.7 million bushels. CBOT Mar is 5 3/4 cents higher at $4.99 1/2, KCBT Mar is 1 3/4 cents higher at $5.06, and MGE Mar is 2 3/4 cents higher at $5.07.



Cattle futures are slightly higher at midday on expectations for firm cash business this week and concern that snow in the Plain could slow marketings and rate of gains. Gains are being limited by positioning ahead of the Cattle on Feed report due out on Friday afternoon. December is 13 cents higher at $87.50 and February is 10 cents higher at $90.45.



Lean hog futures are mixed at midsession. Spread activity in the Feb/Apr contracts has lightly supported the February contract and weighed on April. Trading volume is light ahead of the holidays and market action will likely remain choppy today and tomorrow. February is 23 cents higher at $62.68 and April is 18 cents lower at $65.70.