Corn futures are trading lower at midday. Improved planting progress this week, losses in the stock market and crude oil and strength in the dollar are bearish factors for the corn market. Weekly export shipments last week fell about 10 million bushels below the pace needed to reach USDA's export forecast. July is 3 1/4 cents lower at $4.22 3/4 and December is 3 1/4 cents lower at $4.44.



Soybean futures are trading higher at midsession. Profit-taking initially weighed on the market. However, most contracts have turned higher again despite the weakness in the stock market and crude oil. Strong weekly export sales have helped the market recover. Commitments were above trade expectations and shipments last week were above the pace needed to reach USDA's export projection. July is 2 cents higher at $11.71 and November is 4 cents higher at $10.18 1/2.



Wheat futures are lower at midday. Profit-taking is pressuring prices following the recent rally. The lower stock market, strength in the dollar and large stocks of wheat globally are bearish factors. The weekly export sales report was bearish as shipments last week were well below the pace needed to reach USDA's export forecast. Drier weather in the Plains is helping the winter wheat crop mature and is helping spring wheat planting progress. CBOT July is 6 1/2 cents lower at $5.91 1/4, KCBT July is 6 cents lower at $6.44 and MGE July is 5 cents lower at $7.20 1/2.



Cattle futures are trading lower at midsession. The market is being pressured by weakness in the stock market and concern about slow demand for beef once Memorial Day buying is finished. Losses are being limited by expectations for steady cash trade this week and on positioning ahead of the monthly Cattle on Feed report. June is 35 cents lower at $81.88 and October is 30 cents lower at $88.20.



Lean hog futures are strongly lower at midday. Weakness in the cash market and lower pork cutout values are weigh on futures. Pork cutouts fell $1.33 on Wednesday to a two week low. Outside market pressure is also helping to extend losses as the stock market is weaker today. June is $1.58 lower at $64.90 and August is $1.35 lower at $67.60.