Corn futures are trading higher at midday. Strength in crude oil and weakness in the dollar are supporting prices. Weekly export sales reported this morning at 34 million bushels were above trade expectations. Weather is somewhat supportive as cool and wet weather in the eastern and southern Corn Belt will hamper emergence and will prevent some acreage from being planted to corn. July is 8 1/2 cents higher at $4.44 1/4 and December is 11 cents higher at $4.69.



Soybean futures are higher at midsession. The July contract has rallied to the highest level in nine months. The very tight old-crop stocks continue to be supportive despite the negative old-crop weekly export sales due to cancellations. Weakness in the dollar and strength in the stock market is also encouraging some commodity fund buying. July is 27 cents higher at $12.73 and November is 9 3/4 cents higher at $10.89.



Wheat futures are higher at midday. Fund buying is being driven by weakness in the dollar and spillover strength from soybeans. Weekly export sales of 13 million bushels were above pre-report trade estimates. Strength in the stock market and crude oil are also supportive factors. CBOT July is 9 cents higher at $6.05, KCBT July is 6 1/2 cents higher at $6.54 1/2 and MGE July is 7 1/4 cents higher at $7.33 3/4.



Cattle futures are trading mostly higher at midsession. The discount of futures to cash, weakness in the dollar and strength in the stock market has prompted some short-covering. However, gains are being limited by further weakness in boxed beef prices and expectations for steady to lower cash trade this week. June is 5 cents higher at $79.80 and August is 33 cents higher at $81.15.



Lean hog futures are mostly higher at midday. The July contract is up strongly on short-covering from technically oversold conditions, steady tone in the cash market, weakness in the dollar and strength in the stock market. Further gains are being limited by sluggish pork demand as pork cutouts were down 93 cents on Wednesday. July is $1.45 cents higher at $59.80 and October is 48 cents higher at $58.10.