Corn futures are trading higher at midday. Fund buying and continued concern about wet weather slowing planting progress in the eastern Corn Belt are supporting the market. In addition, the ability of the stock market to turn higher after opening losses and strength in crude oil are also supportive factors for corn. July is 7 cents higher at $4.33 and December is 6 1/2 cents higher at $4.56 1/4.



Soybean futures are higher at midsession. The ability of the stock market and crude oil to turn higher this morning has given support to the commodity markets. Planting delays in the eastern Midwest remain a concern, although it could push some acreage intended for corn to soybeans. However, gains are being limited by the smaller than expected April Census crush and some reports of China cancelling one to three cargoes of U.S. soybeans out of the Gulf. July is 6 cents higher at $11.93 and November is 3 1/4 cents higher at $10.53 1/4.



Wheat futures are strongly higher at midday. Continued concern about spring wheat planting delays and ideas that recent rainfall will increase disease pressure in winter wheat areas are supporting the market. Wheat futures are also being supported by the stock market turning higher after opening lower and the dollar index coming off the highs from overnight trade. CBOT July is 15 1/2 cents higher at $6.41 1/4, KCBT July is 19 1/4 cents higher at $6.94 1/4 and MGE July is 12 3/4 cents higher at $7.92 1/2.



Cattle futures are trading lower at midsession. The market is being pressured by talk of disappointing Memorial weekend retail beef sales and uncertainty about cash market trade this week. Light cash trade developed in the North yesterday down $1 from last week. Losses are being limited by the 86 cent jump in choice boxed beef prices on Wednesday. June is 38 cents lower at $82.00 and August is 60 cents lower at $82.50.



Lean hog futures are higher at midday. The market is being supported by some strength in the cash market, which turned higher late on Wednesday in the western Corn Belt. The outlook for tightening hog numbers seasonally is also supportive. However, gains are being limited by lower pork cutout values yesterday and the premium of futures to cash. June is 38 cents higher at $65.65 and August is 33 cents higher at $68.28.