Corn futures are trading lower at midsession. Profit-taking from the near limit gains yesterday's is weighing on futures as the market had become a little overheated. Active harvest progress and the stalled rally in wheat contributed to the weakness. December is 11 1/4 cents lower at $2.78 1/4 and March is 12 1/2 cents lower at $2.90.



Soybean futures are lower at midsession. The market is setting back from recent gains with ideas of a near record soybean crop and harvest contributing to the selling pressure. Harvest is expected to be reported at 45%-47% complete in this afternoon's USDA progress report. November is 12 cents lower at $5.62 1/2 and January is 12 3/4 cents lower at $5.76 1/2.



Wheat futures are mixed at midday. After locking up limit yesterday, the CBOT Dec contract had enough buying to push prices higher, but the rally has stalled for now. Profit-taking from yesterday's gains has pushed other contracts as well as the KCBT and MGE lower. CBOT Dec is 12 cents higher at $5.06, KCBT Dec is 14 3/4 cents lower at $5.17, and MGE Dec is 15 3/4 cents lower at $4.94.



Cattle futures are trading mixed at midday. Short-covering supported prices early following yesterday's decline as corn prices have pulled back. However, the market has turned mostly lower as packer margins are far in the red and cash markets are expected to be lower again this week. October is 20 cents lower at $89.00 and December is 10 cents higher at $87.93.



Lean hog futures are higher at midsession. Gains are being attributed to short-covering amid expectations that cash markets could improve later this week. Cash markets are lower this morning, but the $1.59 jump in pork cutouts will benefit packer margins and could fuel slaughter plans later this week. October is 45 cents higher at $64.80 and December is 60 cents higher at $59.78.