Corn futures are slightly higher at midday. The market opened lower on disappointing weekly export sales and spillover weakness from other grains. However, futures have been able to bounce once selling pressure was exhausted. May is 3 3/4 cents higher at $2.38 1/2 and July is 3 3/4 cents higher at $2.48 1/4.



Soybean futures are trading higher at midsession. After opening lower, the market has been able to rebound. Soybean meal futures have bounced off of recent losses. Bird flu concerns have eased a little today with news that the bird deaths in the Bahamas appear unrelated to bird flu. May is 7 cents higher at $5.98 and July is 7 cents higher at $6.09.



Wheat futures are higher at midday. Futures opened lower on bearish weekly export sales, technical selling and forecasts for some rain in the dry areas of the southern Plains. However, the lack of follow-through to the downside triggered technical buying. CBOT May is 2 3/4 cents higher at $3.76 3/4, KCBT May is 1/4 of a cent higher at $4.35, and MGE May is 4 cents higher at $4.20.



Cattle futures are trading lower at midsession. The nearby April contract has slipped to new five-month lows as traders wait for the cash market to develop. Packer margins are positive but remain narrow. Boxed beef prices were lower on Wednesday. April is 37 cents lower at $86.65 and June is 37 cents lower at $82.25.



Lean hog futures are firm at midday. The cash market is steady to higher. Packer margins are favorable and market ready supplies are tightening seasonally. Pork cutouts turned slightly lower on Wednesday, but held on to all but 12 cents of the $3.44 gain on Tuesday. April is 40 cents higher at $63.10 and June is 10 cents higher at $71.45.