Corn futures are slightly higher at midsession. The market is fairly quiet and choppy as traders gear up for the Supply/Demand report due out Monday morning. Light fund long liquidation has been countered by short-covering following the recent setback. March is 1 cent higher at $3.73 1/2 and December '07 is unchanged at $3.54.



Soybean futures are trading higher at midday. The lack of any fresh news has limited market action as traders even positions ahead of the weekend and the Supply/Demand report. Favorable weather so far for the South American crop has raised some ideas that USDA will raise production estimates for Brazil and Argentina. January is 1 3/4 cents higher at $6.63 3/4 and November is 2 1/2 cents higher at $7.14.



Wheat futures are lower at midsession. Continued profit-taking by the funds ahead of the end of the year is weighing on prices. Bearish technical momentum and concern about the sluggish pace of exports are also keeping futures on the defensive. CBOT Mar is 4 3/4 cents lower at $4.91, KCBT Mar is 3 3/4 cents lower at $5.10, and MGE Mar is 5 cents lower at $5.04.



Cattle futures are trading slightly higher midday. Expectations for steady to firm cash trade later today compared with the $86 business last week is providing support. Packer margins are positive and packers need cattle to fill near-term slaughter schedules. December is 38 cents higher at $87.03 and February is 63 cents higher at $89.93.



Lean hog futures are higher at midsession. Trade has been choppy in light volume. Some firm cash bids helped support prices although gains in the futures market are being limited by declining packer margins and the premium that the February contract holds to the lean hog index. December is 25 cents higher at $62.78 and February is 43 cents higher at $64.70.