Corn futures are trading fractionally higher at midday. The market is in consolidation mode after slipping to new contract lows on Friday. Strong demand is an underlying supportive factor, but large corn stocks and ideas of increased production from USDA's August estimate continue to limit buying interest. September is 3/4 of a cent higher at $2.20 1/2 and December is 3/4 higher at $2.36 1/2.



Soybean futures are slightly higher at midsession. Favorable Midwest weather in August and ideas of increasing yields continue to be a weight on the market despite technically oversold conditions. USDA is expected to raise good to excellent condition ratings by 1 to 3 percentage points this afternoon. September is 3/4 of a cent higher at $5.47 3/4 and November is 1/4 higher at $5.60 3/4.



Wheat futures are trading mixed at midday. Initial support came from talk that Brazil may be looking for U.S. wheat and that India is importing wheat. However, weather forecasts for rain in the Plains have pushed the KCBT lower. CBOT Sep is 1 cent higher at $3.65 1/2, KCBT Sep is 3 1/4 cents lower at $4.51, and MGE Sep is 1 1/2 cents lower at $4.47.



Cattle futures are higher at midsession. The market is being supporting by the lifting of hedges after cattle traded late on Friday at steady to higher prices. The Cattle on Feed report was seen as neutral as traders were expecting the large July Placements and Inventory numbers. October is 58 cents higher at $91.45 and December is 30 cents higher at $90.45.



Lean hog futures are trading higher at midday. Packer demand is better than expected as packer bids are generally $1-$2 higher this morning. Pork demand appears to be strong. Bullish momentum continues as front end futures have rallied to new contract highs again. October is 75 cents higher at $67.08 and December is 48 cents higher at $63.73.