Corn futures are trading slightly higher at midsession. Follow-through from yesterday's firm close is supporting futures despite weekly export sales at a marketing year low. Light farmer selling and firm basis are supportive factors. March is 1 1/2 cents higher at $2.03.



Soybean futures are steady to higher at midsession. Short-covering and firm cash markets are helping the market recover from oversold conditions. Talk of China buying a few more cargoes of U.S. soybean is also providing support. March is 1 cent higher at $5.28.



Wheat futures are mostly higher at midday. Short-covering from recently set contract lows continue to support futures. However, gains are being limited by anemic export sales of 3.4 million bushels. CBOT Mar is 1 1/2 cents higher at $3.01 1/4, KCBT Mar is 1 cent higher at $3.34 1/2 and MGE Mar is 1 1/4 higher at $3.42.



Cattle futures opened higher, but quickly turned lower. News that Tyson will scale back slaughter at four packing plants and continued weakness in boxed beef prices are weighing on prices as this does not bode well for cash trade this week. February is 95 points lower at $88.45.



Lean hog futures steady to lower at midsesion. Futures premium to cash and concern that backed up hogs in the Midwest will flood the market when the weather clears is weighing on the market. February steady at $75.75 and April is 43 points lower at $76.35.