Corn futures are slightly higher at midsession. Initial support came from spillover from soybeans. However, gains are being limited by heavy deliveries against the March contract and South Korea buying corn from China over the weekend. May is 1/2 of a cent higher at $2.22.



Soybean futures are strongly higher at midday. Continued concern about the dry conditions in southern Brazil and forecasts for mostly dry weather over the next week are driving prices higher. The lack of deliveries against the March contract was also supportive. May is 15 1/2 cents higher at $6.20.



Wheat futures are higher at midsession, led by the CBOT. Spillover support from soybeans and light deliveries against the March contract are supportive factors. Technically overbought conditions may limit any further gains. CBOT May is 6 1/4 cents higher at $3.39 1/2, KCBT May is 5 1/2 cents higher at $3.56 and MGE May is 6 1/2 higher at $3.61 1/2.



Cattle futures are trading higher this morning. Fed cattle traded mostly at $87 last week, down $1 from the previous week. Boxed beef prices appear to have stabilized, but packer margins remain well in the red. April is 33 cents higher at $86.43.



Lean hog futures are trading are trading higher at midday. Higher pork cutouts values have given the market some support, However, cash markets are mixed and futures continue to trade at a premium to cash. April is 25 cents higher at $74.40.