Corn futures are trading slightly higher at midday. Market action remain limited in light volume as traders gear up for the planting intentions number on Thursday morning. The average trade estimate calls for acreage to increase 1.5 million from last year. May futures are 3/4 of a cent higher at $2.13 3/4.



Soybean futures are trading higher this morning. Gains are being attributed to short-covering ahead of the USDA reports due out tomorrow morning. Cash basis levels in the Midwest are firm, but movement remains light. May futures are 11 1/4 cents higher at $6.35 1/4.



Wheat futures are trading mixed at midsession. Light short-covering has been noted at the CBOT, but the KCBT and MGE are slightly lower as traders even positions ahead of the USDA reports. Weather conditions and winter wheat crop ratings are mostly favorable. CBOT May is 1 1/2 cents higher at $3.36, KCBT May is 2 1/4 cents lower at $3.41 1/2 and MGE May is 2 cents lower at $3.52 1/2.



Cattle futures are trading higher at midday. Higher beef prices and talk of higher cash trade this week is supporting futures. There is a report of some $94-$95 trade in Nebraska. April is 80 cents higher at $90.90.



Lean hog futures are mixed at midsession. April is being pressured by the premium to cash despite higher cash trade this morning. Some profit-taking in the deferred months has left the market mixed. April is 63 cents lower at $68.65.