Corn futures are trading steady to fractionally lower at midday. Losses are being attributed to a technical setback from yesterday's firm close. Trade is expected to remain limited ahead of tomorrow's Supply/Demand report. May futures are 1/2 of a cent lower at $2.13 13/4.

Soybean futures are trading lower at midday after a higher open. Fund buying has been a supportive factor, but traders are taking some caution ahead of the Supply/Demand report due out Thursday morning. May is 2 cents lower at $6.23 1/2.

Wheat futures are lower at midday. Export news remains mostly negative as Egypt bought wheat from Australia. Trade activity is expected to remain limited ahead of the USDA numbers due out tomorrow morning. CBOT May is 1 cent lower at $3.36 1/4, KCBT May is 1 cent lower at $3.46 1/2 and MGE May is 1/4 of a cent lower at $3.56.

Cattle future are higher at midsession. Sharply higher beef prices this week and expectations for cash trade to be up $1 to $2 are supporting futures. Ideas that the ban on Canadian cattle imports will drag remains an underlying factor. April is 88 cents higher at $90.13.

Lean hog futures are trading sharply lower at midday. Profit-taking following recent gains has pushed prices lower. Packer margins remain very poor and that is expected to eventually weigh on cash bids. April is 170 points lower at $74.40.