Corn futures are trading lower at midday. Spillover weakness from crude oil is weighing lightly on the market. Futures were higher early due to weakness in the dollar index and news that China has approved plans for the government to buy an additional 20 million tonnes of domestic corn for government stocks. March is 1 1/2 cents lower at $3.79 1/4 and July is 1 3/4 cents lower at $3.99 1/4.



Soybean futures are higher at midsession. Strength in Chinese soybean futures overnight has provided support as there is speculation the government will make additional soybean purchases for government stocks. Some rainfall was seen in South America this weekend, but several areas in Argentina and southern Brazil remain dry. January is 17 3/4 cents higher at $8.86 and March is 17 1/4 cents higher at $8.89 3/4.



Wheat futures are trading mixed at midday. The market is in consolidation mode. Weakness in the dollar and spillover support from soybeans are supportive factors. However, sluggish export demand and corn futures turning lower have limited gains and pushed the CBOT wheat market lower. CBOT March is 1/2 of a cent lower at $5.63 while KCBT March is 1 1/2 cents higher at $5.84 1/2 and MGE March is 4 1/2 cents higher at $6.29 3/4.



Cattle futures are trading lower at midsession. The market found early support from firm beef prices on Friday and the larger than expected November marketings number in the Cattle on Feed report. However, the premium of futures to last week's cash market and the light pre-holiday trade has pushed futures lower. February is 98 cents lower at $85.80 and April is 75 cents lower at $88.45.



Lean hog futures are lower at midday. Weakness in the cash market ahead of the holidays is weighing on futures. Cold weather is slowing hog movement, but packer demand is light ahead of the holiday shutdowns later this week. February is 15 cents lower at $61.55 and April is 30 cents lower at $69.15.