Corn futures are trading higher at midsession on spillover support from soybeans. Futures remain in their recent trading range. Position evening ahead of the three-day President's Day weekend could cause some choppy trade ahead of the close. March is trading 3/4 of a cent higher at $2.00.



Soybean futures are higher again this morning. The short-covering rally has been extended today as traders lighten short positions ahead of the extended trading weekend. Dry conditions in southern Brazil and a lowered production estimate by Safras are supporting the market. March is 3 1/2 cents higher at $5.55 1/2.



Wheat futures are higher at midday. Market action is limited, but support from the rally in soybeans has helped pull prices higher. Firm markets are also attributed to improved export demand the past few weeks and the EU's relatively small export subsidy. CBOT Mar is 1/2 of a cent higher at $2.96, KCBT Mar is 2 1/2 cents higher at $3.31 1/4 and MGE Mar is 1/4 of a cent higher at $3.34.



Cattle futures are strongly lower at midday. Fund selling is weighing on the market due to weakening beef prices and reports that high-level officials are pressuring USDA to expand the list of beef products allowed to be imported from Canada. April is 105 points lower at $86.25.



Lean hog futures are lower at midsession in sluggish trade ahead of the three-day President's Day weekend. Some lower cash bids this morning has pressured prices and futures remain at a big premium to cash. April is 50 cents lower at $73.35.