Corn futures are trading lower at midday. Fund long liquidation and spillover selling from weakness in outside markets including crude oil are weighing on the market. The large long position being held by the funds leaves the market vulnerable to further weakness through the end of the year. March is 5 3/4 cents lower at $3.63 1/4 and December '07 is 3 1/4 cents lower at $3.57 3/4.

Soybean futures are strongly lower at midsession. The overall weak tone in commodity markets and bearish fundamentals are weighing on futures. Weather forecasts are calling for some needed rainfall in southern Brazil this week and weekly export inspections were disappointing at only 32.8 million bushels. January is 11 cents lower at $6.46 1/2 and November is 8 3/4 cents lower at $7.06.

Wheat futures are lower at midsession. The market is setting back from Friday's gains on spillover weakness from corn, soybeans, along with outside commodity markets. Sluggish export demand remains a bearish fundamental factor. CBOT Mar is 12 3/4 cents lower at $4.81 1/2, KCBT Mar is 7 cents lower at $5.06, and MGE Mar is 10 cents lower at $5.01.

Cattle futures are trading higher at midday. Profit-taking from Friday's gains initially weighed on the market, but futures bounced higher on ideas of firm cash trade this week and forecasts for wintery weather in the southern Plains this week. December is 15 cents higher at $86.55 and February is 45 cents higher at $89.95.

Lean hog futures are lower at midsession. Lower cash hog bids this morning and weakness in pork cutout values are pushing futures lower. Technically the market remains weak although bargain hunting and short-covering could limit losses or help futures turn higher ahead of the close. February is 15 cents lower at $62.10 and June is 23 cents lower at $72.40.