Corn futures are trading lower at midday. Technical selling and weakness in soybeans are weighing on the market. Weekly export sales were neutral at 31.9 million bushels. May is 1 3/4 cents lower at $2.17 1/4.



Soybean futures are lower at midsession. Consolidation trade amid technically overbought conditions is weighing on the market. Futures are lower despite weekly export sales beating trade expectations at 23.9 million bushels. May is 7 1/4 cents lower at $6.20.



Wheat futures are lower at midday. Fund buying has cooled off in the grain markets and wheat is following soybeans lower today. Weekly export sales of 16.6 million bushels were at the high end of trade expectations, but 20% under the four-week average. CBOT May is 4 cents lower at $3.36 1/2, KCBT May is down 5 cents at $3.46 1/2 and MGE May is 4 1/4 lower at $3.56.



Cattle futures are trading strongly higher this morning. Support is coming from ideas that the ban on Canadian cattle imports could drag on for several months. Cash cattle are now expected to trade firm this week. April is 160 points higher at $88.40.



Lean hog futures are higher at midday on spillover support from cattle. Meat supplies will be smaller than expected the near-term by the lack of Canadian cattle imports. The $1.99 jump in cutouts yesterday is helping cash markets trade steady to higher. April is 170 points higher at $76.35.