Corn futures are trading higher at midday. Position evening ahead of the USDA reports due out on Friday and spillover buying from soybeans are supportive factors. Gains are being limited by more rainfall in the Midwest that will benefit 2006 crop prospects. May is 3 1/4 cents higher at $2.22 and December is 3 cents higher at $2.54 1/2.



Soybean futures are trading strongly higher at midsession. The surge has been attributed to technical buying from the funds. Strength in outside commodity markets such as gold is also a supportive factor. May is 11 cents higher at $5.84 3/4 and November is 9 3/4 cents higher at $6.13.



Wheat futures are steady to higher at midday. Higher corn and soybean futures are offering support, but buying interest is being limited by sluggish export demand and forecasts for rain the Plains later this week. The CBOT is being limited by Egypt buying French wheat instead of U.S. supplies in a weekend tender. CBOT May is steady at $3.42 1/2, KCBT May is 3/4 of a cent higher at $3.94 and MGE May is 1 1/4 cents higher at $3.94.



Cattle futures are trading lower at midsession. The bearish Cattle on Feed report and weaker boxed beef prices are weighing on the market with the April through December contracts hitting new lows. April is 45 cents lower at $82.03 and June is 65 cents lower at $76.25.



Lean hog futures are lower at midday. Cash markets were expected to open the week mostly steady, but some lower bids this morning pushed prices lower. Trade volume is light as the market is positioning ahead of the Quarterly Hogs and Pigs report due out on Friday. April is 73 cents lower at $58.00 and June is 93 cents lower at $66.65.