Corn futures are trading lower at midsession. Forecasts for some better corn planting weather and profit-taking are weighing on the market. Planting progress was only 33% complete as of Sunday, down 17% from normal. The main delays are in the eastern half of the Corn Belt. Forecasts have turned a little drier for the eastern Corn Belt, which should allow for some planting progress. July is 4 1/4 cents lower at $4.01 1/4 and December is 3 3/4 cents lower at $4.10 3/4.



Soybean futures are mixed at midsession. Old-crop contracts have pulled higher after trading both sides this morning as fundamentals remain bullish. Tight old-crop stocks and strong export demand are supportive factors. Argentina's soybean crop production estimates continue to decline. However, profit-taking and somewhat drier forecasts that will allow from some planting progress in the Midwest are weighing on new-crop months. July is 3 1/4 cents higher at $11.06 3/4 while November is 7 1/2 cents lower at $9.63.



Wheat futures are higher at midday. Slow spring wheat planting and a rebound from yesterday's losses are supporting prices. USDA pegged spring wheat planting progress at 23% complete compared to the 5-year average of 59%. Rainfall and cool temperatures continue to slow spring wheat planting. Wet conditions in the SRW belt raises concerns about reduced production and increased chances of disease. However, gains are being limited by generally favorable crop weather for the HRW wheat belt. CBOT July is 7 1/2 cents higher at $5.58 1/2, KCBT July is 3 3/4 cents higher at $6.00 3/4 and MGE July is 3 3/4 cents higher at $6.70 1/2.



Cattle futures are trading higher at midday. Short-covering and the discount of futures to cash are supporting the market. However, gains are being limited by the recent decline in beef prices. Choice cutouts were down again on Monday and are at the lowest level since mid-April at a time when demand is supposed to be seasonally strong. June is 38 cents higher at $82.25 and August is 20 cents higher at $86.75.



Lean hog futures are strongly higher at midsession. Ideas that flu concerns are easing has led to the short-covering rally. However, gains continue to be limited by weaker pork prices. Pork cutouts fell $1.01 on Monday, hitting the lowest level since December 30. The cash market remains weak as well as packers worry about moving pork. June is $1.28 higher at $65.05 and July is $1.15 higher at $67.80.