Corn futures are trading higher at midday. Speculative buying is again supporting the market after some profit-taking late last week. Strong demand and tight stock projections continue to fuel buying interest although weekly export inspections were below trade expectations at 34.5 million bushels. December is 4 cents higher at $3.47 1/4 and March is 4 cents higher at $3.63 1/2.



Soybean futures are higher at midsession on spillover support from corn. Despite bearish fundamentals, soybeans are trying to keep pace with the gains in corn. Bearish fundamentals include this year's large crop and record ending stock projections. November is 3 3/4 cents higher at $6.55 and January is 5 cents higher at $6.67 1/2.



Wheat futures are mostly higher at midday. Firm corn prices are providing light support this morning. Some dry weather in the U.S. Plains and continued drought in Australia are providing fundamental support. However, the long running bull market appears to be running out of steam. CBOT Dec is 2 1/2 cents higher at $4.83, KCBT Dec is 1 3/4 cents higher at $5.10 1/2, and MGE Dec is 3/4 of a cent lower at $4.96 1/2.



Cattle futures are trading lower at midsession. The decline in cash prices last week and higher corn prices are weighing on the market this morning. However, losses are being limited by futures discount to cash and caution ahead of the Cattle on Feed report due out on Friday. December is 23 cents lower at $85.48 and February is 35 cents lower at $88.40.



Lean hog futures are sharply lower at midday. Lower cash hog prices pushed the market lower with technical selling and long liquidation extending the losses. Hog supplies remain large and packer demand is soft as slaughter schedules have been cut back. December is $1.28 lower at $61.70 and February is $1.45 lower at $65.30.