Corn futures are trading lower at midsession. Follow-through selling from yesterday's drop is weighing on the market as traders continue to take profits on recent gains. Investment funds are said to be taking profits ahead of year-end. March is 2 3/4 cents lower at $3.72 3/4 and May is 2 1/2 cents lower at $3.78 1/2.



Soybean futures are steady to lower at midday. Weakness in corn and continued favorable weather in South America has added to the follow-through technical selling. However, the market is trying to stabilize at midday. January is unchanged at $6.59 1/4 and March is 1/2 cent lower at $6.73.



Wheat futures are lower at midsession. The market is being pressured by general weakness across the grain markets and profit-taking by the funds ahead of the end of the year. Tight global wheat stocks are providing underlying support. CBOT Mar is 5 1/2 cents lower at $5.12 1/2, KCBT Mar is 6 1/2 cents lower at $5.31, and MGE Mar is 6 3/4 cents lower at $5.18 1/2.



Cattle futures are higher at midday. A firm tone in the beef market and ideas that yesterday's losses are overdone helped support prices. Cash markets are expected to be firm this week compared to the $86 trade last week as packers have aggressive slaughter schedules to start the week. February is 90 cents higher at $89.03 and April is 65 cents higher at $90.50.



Lean hog futures are trading higher at midsession. Steady to firm cash hog markets and a gain in pork cutouts of 53 cents on Monday are helping futures rebound from yesterday's steep selloff. February is $1.10 higher at $63.95 and April is 50 cents higher at $66.60.