Corn futures are trading slightly lower at midday. Follow-through selling from yesterday's decline and forecasts calling for rainfall in the Midwest are weighing on the market. Soil moisture levels need to be recharged ahead of planting. May is 1 cent lower at $2.31 3/4 and December is 1 cents lower at $2.58 1/2.

Soybean futures are trading lower at midsession. The market is being pressured by speculative selling. Forecasts for rainfall in the Midwest and strength in the U.S. dollar are bearish fundamental factors. The May contract has slipped below the 100-day moving average. May is 6 1/2 cents lower at $5.94 and November is 4 1/2 cents lower at $6.18.



Wheat futures are higher at midday. Light support is being generated from another week of very poor hard red winter wheat crop ratings. Near-term forecasts are mostly dry for the central and southern Plains although light rainfall is possible later this week. CBOT May is 2 1/2 cents higher at $3.82 1/2, KCBT May is 1 cent higher at $4.40 1/2 and MGE May is 1 1/2 cents higher at $4.24 1/2.

Cattle futures lower at midday. Front end contracts have dipped to six-month lows in light volume. Cash market fundamentals remain bearish as boxed beef prices have been moving lower. Losses are being limited by technically oversold conditions. April is 42 points lower at $85.27 and June is 32 cents lower at $80.95.



Lean hog futures are strongly lower at midsession. Steady to lower cash markets have led to weakness in the futures market. April has gapped to a one-month low as positions are being rolled to deferreds. The June contract's premium to cash and technical weakness are bearish factors. April is 152 points lower at $59.25 and June is 117 point lower at $68.35.