Corn futures are trading mixed at midday. The market continues to be choppy and is holding in the middle of a trading range. Strong demand is being countered by estimates for a big increase in acreage this spring. Funds remain heavily net long, but price weakness hasn't been significant enough to trigger fund liquidation. March is 1 1/4 cents lower at $4.00 3/4 and December is 1 1/2 cents higher at $3.96 1/4.



Soybean futures are slightly higher at midsession. Gains are being limited by consolidation after futures rallied to 1 1/2 year highs on Monday. Old-crop fundamentals are bearish with big stocks, but new-crop could be more positive with expectations for a sharp decrease in acreage this spring. March is 3 cents higher at $7.43 and November is 3 cents higher at $7.96.



Wheat futures are slightly lower at midday. Export demand has improved recently, but buying interest is being limited by ideas of a larger U.S. and world wheat crop this year. Cold weather in the Plains and Midwest has failed to provide any sustained support as most winter wheat has enough snow cover to avoid damage. CBOT Mar is 1/2 cent lower at $4.58, KCBT Mar is 3/4 cent lower at $4.84 1/2, and MGE Mar is 3/4 cent lower at $4.91 1/2.



Cattle futures are trading higher at midday. Firm beef prices and ideas that there will be good demand for the delivery notices posted against the February contract are supporting the market. Weather stress this week will further delay cattle that were set back by the series of winter storms since late December. February is 58 cents higher at $92.23 and April is 18 cents higher at $95.50.



Lean hog futures are lower at midsession. Profit-taking is weighing on the market as futures had become overbought. Cash markets are mostly steady today but there is concern that the cold weather is backing up some hogs that will pressure prices when temperatures moderate. February is 8 cents lower at $64.60 and April is 33 cents lower at $67.25.