Corn futures are trading sharply higher at midday. The rally in wheat prompted the gains with underlying support continuing to come from strong demand for corn for ethanol use, feed, and export. So far, harvest pressure has done little to keep the market in check. December is 10 cents higher at $2.81 and March is 8 1/2 cents higher at $2.92 1/2.



Soybean futures are higher at midsession. Spillover strength from wheat and corn are providing support. However, gains are being moderated by weekend harvest progress of this year's large crop. November is 6 3/4 cents higher at $5.70 3/4 and January is 6 cents higher at $5.83 3/4.



Wheat futures are sharply higher at midday. Fund buying has triggered the sharp jump, with the CBOT Dec trading at 10-year highs. Shrinking global stocks are providing fundamental support. Australia's wheat crop continues to be downgraded. CBOT Dec is locked up the limit 30 cents at $4.94, KCBT Dec is 19 1/4 cents higher at $5.21, and MGE Dec is 17 3/4 cents higher at $4.97 1/2.



Cattle futures are trading sharply lower at midsession. Lower cash cattle trade late on Friday, sluggish boxed beef prices, and strongly higher corn prices are providing fundamental pressure on the market. Packer margins remain well in the red. Technical selling has helped to extend losses. October is 193 points lower at $88.95 and December is 163 points lower at $87.73.



Lean hog futures are lower at midday. Spillover weakness from cattle and lower cash bids this morning are weighing on the market. Traders are looking for a lower trend in cash prices this week as packers slow slaughter in an effort to regain margin. Calculated margins have turned slightly positive. October is 43 cents lower at $64.15 and December is 43 cents lower at $59.20.