Corn futures are trading slightly higher at midday. The market was supported early by fund buying tied to overnight strength in global stock markets and supportive weekly export sales of 46.8 million bushels. The downturn in crude has limited gains as of midday. May is 1/4 of a cent higher at $4.24 3/4 and December is 3 1/2 cents higher at $4.12 3/4.



Soybean futures are higher at midsession. Follow-through technical buying from Wednesday and slightly supportive weekly export sales have helped push prices slightly higher. Weekly export sales of 20.8 million bushels were at the high end of pre-report estimates. May is 1 1/2 cents higher at $7.58 3/4 and November is 2 1/4 cents higher at $7.97 1/2.



Wheat futures are trading steady to lower at midday. Losses are being limited by small gains in corn and soybeans. However, weekly export sales failed to generate any support with 15.5 million bushels of commitments coming in at the low end of expectations. CBOT May is 1 cent lower at $4.77, KCBT May is 1/4 cent lower at $5.02 1/4, and MGE May is 1 cent lower at $5.12 1/4.



Cattle futures are trading sharply higher at midsession. The April contract is up the limit and moved above $100 per hundredweight, marking the first time a spot month has reached that level since November 2003. Sharp gains in Choice beef prices and reports of $98 cash cattle trade are providing fundamental support. April is 300 points higher at $101.55 and June is 268 points higher at $99.50.



Lean hog futures are strongly higher at midday. Gains in the cattle pit have pulled hogs higher on ideas that firm beef prices could turn consumers to pork. Improved packer margins and ideas of firm cash hog prices in the near-term have also helped rally futures. April is up the limit 300 points at $68.68 and June is 268 points higher at $78.80.