Corn futures are trading slightly higher at midsession. Gains can be attributed to the rally in the stock market and crude oil while the dollar index is lower. Weather forecasts show rain and cooler temperatures across some of the Corn Belt this weekend and next week, although gains in futures are being limited by ideas of some planting progress in the southern and eastern Midwest and Delta next week as forecasts have turned a little drier. May is 1/4 of a cent higher at $3.81 1/4 and December is 1/4 of a cent higher at $4.11 3/4.



Soybean futures are higher at midsession. Light profit-taking was expected to pressure the market, but futures have instead rallied due to outside market strength. The rally in the stock market and crude oil and weakness in the dollar are supportive factors. In addition, Statistics Canada reported canola planting intentions at 15 million acres, down 7% from last year and below trade expectations. May is trading 2 3/4 cents higher at $10.40 1/2 and November is 11 cents higher at $9.34 1/2.



Wheat futures are mostly higher at midday. Improved winter wheat weather and profit-taking from the recent rally weighed on futures early. But the market has rebounded on spillover support from outside markets as well as corn and soybeans. The dollar is down strongly so far today, which could help stimulate some export demand. However, planting delays remain a concern for spring wheat as forecasts call for more rain in the northern Plains. CBOT May is 1 1/4 cents higher at $5.30 1/2, KCBT May is 1 3/4 cents higher at $5.31 while MGE May is 1 3/4 cents lower at $6.67 1/4.



Cattle futures are trading mixed at midday. There is little movement in the cattle pit as traders weigh bullish and bearish news. Boxed beef prices turned lower on Thursday for the first time in weeks and cash trade was a little less than expected this week although it was steady to firm. However, tight supplies of market ready cattle and ideas of seasonal improvement in demand are bullish factors. June is 18 cents lower at $83.30 and August is 8 cents higher at $83.75.



Lean hog futures are higher at midsession. Futures are rebounding from recent weakness and the three-week low set in the June contract on Thursday. Pork cutout values turned higher yesterday, gaining 94 cents. The firm cash market this week and ideas of tightening hog supplies in the upcoming weeks are also supportive factors. June is 68 cents higher at $72.55 and July is 25 cents higher at $73.38.