Corn futures are higher at midsession. Gains are being attributed to short-covering. Funds remain heavily short and the market has been able to hold above support on the March contract. March is trading 1 cent higher at $1.96 3/4.



Soybean futures are trading steady to higher at midday. After a lower open, firm cash markets prompted some short-covering in the nearby which helped pull deferreds to near steady. Weekend rainfall in South America is limiting gains. March is 2 1/4 cents higher at $5.16 1/4.



Wheat futures are trading fractionally higher at midsession. Futures opened lower due to sluggish export demand and the lack of threatening weather for the winter wheat crop this past weekend. However, light short-covering has helped pull prices higher. CBOT Mar is 3/4 of a cent higher at $2.90 3/4, KCBT Mar is 1/2 of a cent higher at $3.25 and MGE Mar is 3/4 of a cent higher at $3.37 3/4.



Cattle futures are trading lower at midday. Ideas that the market is overbought and better than expected weather in the Plains feedlot areas are weighing on the nearby. Deferreds are being pressured by Friday's Cattle Inventory report. February is 3 cents lower at $89.75.



Lean hog futures are narrowly mixed at midsession. The cash market remains weak even though cutouts were up over $1 on Friday. Poor packer margins are expected to slow the pace of slaughter. February is 3 cents lower at $74.10.