Corn futures are trading lower at midday. The market continues to be pressured by ideas that favorable August weather across the Corn Belt will add to yields. Good demand and technically oversold conditions are helping to limit losses so far today. September is 1 3/4 cents lower at $2.19 1/4 and December is 2 cents lower at $2.35 1/2.

Soybean futures are trading fractionally mixed at midsession as the market is in consolidation mode. Fundamentals are generally bearish with large old-crop stocks and favorable August weather benefiting the 2006 crop. Losses are being limited by the technically oversold levels. September is unchanged at $5.48 1/4 and November is 1/4 of a cent higher at $5.61 1/2.

Wheat futures are trading lower at midsession. The market is making a small setback following yesterday's gains. Rainfall in the Plains that is helping replenish soil moisture ahead of winter wheat seedings and sluggish export demand are bearish factors. CBOT Sep is 4 3/4 cents lower at $3.61, KCBT Sep is down 7 1/4 cents at $4.46 1/2, and MGE Sep is 8 1/2 cents lower at $4.38.

Cattle futures are lower at midday. Profit-taking following recent gains and declining boxed beef values are weighing on futures. Cash cattle are expected to trade steady to firm this week, but gains will be limited by narrowing packer margins. October is 13 cents lower at $91.53 and December is down 38 cents at $90.50.

Lean hog futures are trading lower at midsession. After setting new contract highs again on Monday, futures are taking a breather so far today. However, cash fundamentals remain positive with bids generally $1 higher again this morning. October is 45 cents lower at $66.60 and December is 70 cents lower at $63.28.