Corn futures are higher at midsession. While USDA reported better than expected planting progress last week, the 22% of the crop planted is still down from the 5-year average of 28%. Weather forecasts are bullish as more rain in the Midwest this week and cool and wet forecasts for next week point to continued planting delays. May is 3 3/4 cents higher at $3.76 and December is 3 1/2 cents higher at $4.05.



Soybean futures are mixed at midday. Old-crop contracts turned lower on talk that export demand may be easing. Strong demand from China has been a bullish factor for old-crop for some time. New-crop is higher on potential soybean planting delays given the wet Midwest forecasts. Soybean planting progress was 3% complete as of Sunday, down from the 5-year average of 5%. May is 8 1/4 cents lower at $9.96 1/2 while November is 3 1/2 cents higher at $9.08.



Wheat futures are trading higher at midsession. The market is recovering from Monday's weakness amid continued spring wheat planting delays. USDA pegged the crop as 15% seeded compared to the 5-year average of 36%. Cool and weather in the northern Plains this week will continue to limit progress. Slight improvement in winter wheat condition ratings are helping to limit gains. CBOT May is 4 1/4 cents higher at $5.12 1/4, KCBT May is 3 3/4 cents higher at $5.68 1/4 and MGE May is 5 cents higher at $6.63 1/4.



Cattle futures are trading mixed at midsession. June is slightly higher due to the discount to last week's cash trade. Spillover weakness from hogs has kept most contracts on the defensive. Concern that some countries could restrict imports of U.S. beef is also a concern. June is 20 cents higher at $82.00 while October is 8 cents lower at $86.13.



Lean hog futures are sharply lower again at midday. Concern about the spreading swine flu continues to pressure prices. While the virus is not spread by pork or from live hogs, traders are worried about decreased pork demand and export due to trade restrictions. Mexico is the top market for U.S. pork exports and demand there will be hurt by the flu scare. In addition, China and Russia have restricted pork imports from the U.S. June is $2.30 lower at $66.35 and July is $2.15 lower at $67.45.