Corn futures were solidly higher at the opening in fast market trade. Fund and technically driven buying continues to support the market. March is 2 1/4 cents higher at $2.19 1/4 and May is 2 1/4 cents higher at $2.29.

Soybean futures are sharply higher and leading the higher trade in the other grains. March is 10 3/4 cents higher at $5.83 3/4 and May is 10 cents higher at $5.94 1/2. Thursday's strong close along with dry forecasts for Argentina and southern Brazil are providing a boost for prices.

Wheat futures are trading 2-4 cents higher at midday. Wheat continues to find support from concern over dryness across the southern Plains and on news that Iraq is looking to buy 1 million metric tons of wheat. CBOT Mar is 4 1/4 cents higher at $3.49, KCBT Mar is 1 3/4 cents higher at $3.97 1/4 and MGE Mar is 2 3/4 cents higher at $4.02.

Cattle futures are trading lower at mid-session. Cash cattle are bid near $94.00 with feedlots asking $97.00 to $98.00 in the Plains. USDA will issue the semiannual cattle inventory report Friday PM. The trade expects all cattle and calves to be up 1% with the 2005 calf crop about 0.5% higher. February is 78 cents lower at 94.18 and April is 88 cents lower at $92.20.

Lean hog futures are trading lower with February and April futures posting new lows for the move. Cash hogs are trading .50 to 1.00 lower. Hog supplies are adequate and pork demand has been soft. Even so, futures are deeply oversold and due for a corrective rally. February is 72 cents lower at $56.45 and April is 48 cents lower at $61.45.