Corn futures are higher at midday. The corn market is being pulled higher by soybeans amid forecasts for drier weather in Argentina next week. But gains have been limited at times by positioning ahead of USDA's supply/demand report due out next Tuesday, which is expected to show an increase in the U.S. ending stocks number. March is 8 1/4 cents higher at $3.79 1/2 and May is 8 1/2 cents higher at $3.90.



Soybean futures are strongly higher at midsession. The market continues to rebound on forecasts for warmer and drier weather in Argentina next week. Recent rainfall has eased crop stress, but extended forecasts show the weather pattern turning drier again. Outside markets are providing mixed signals as lower crude oil prices are bearish but weakness in the dollar index is supportive. March is 25 cents higher at $10.05 and May is 25 1/4 cents higher at $10.08 1/2.



Wheat futures are trading slightly higher at midsession. Futures were lower most of the morning on profit-taking and forecasts calling for beneficial rainfall in the southern Plains this weekend and early next week. However, strength in corn and soybeans and weakness in the dollar index have helped pull prices higher at midday. CBOT March is 4 cents higher at $5.65 3/4, KCBT March is 2 cents higher at $5.92 and MGE March is 2 1/2 cents higher at $6.58 1/4.



Cattle futures are trading mostly higher at midday. The market is being supported by firm cash trade so far this week and strength in the stock market. Light cash trade developed on Thursday in the North at $131-$132 dressed, up $1-$2 from last week. But gains continue to be limited by weakening beef prices and concern about beef demand. April is 48 cents higher at $86.98 and June is 35 cents higher at $84.40.



Lean hog futures are mixed at midsession. Weakness in the cash market and concern about the economy are weighing on some months. However, with futures at or near contract lows, short-covering from technically oversold levels is supporting some contracts ahead of the weekend. April is 15 cents higher at $60.40 and June is 8 cents higher at $72.60.