Corn futures are higher at midday. The market is rebounding from the losses posted yesterday on spillover support from firm crude oil and gold markets. The rally in soybeans and technical buying are also providing some buying interest. March is 2 1/4 cents higher at $4.10 1/2 and December is 3 1/2 cents higher at $4.04 3/4.



Soybean futures are trading higher at midsession. Gains in outside markets such as crude oil and gold got the market started higher, with technical buying adding to gains. Soybeans and soybean meal rallied to new-contract highs this morning with the spot soybean price hitting a 2 1/2 year high. March is 6 cents higher at $7.56 1/2 and November is 5 3/4 cents higher at $8.08 1/2.



Wheat futures are higher at midday. Spillover strength from corn and gains in outside markets such as crude oil and gold are lending support. There is little other fundamental news available as USDA has delayed the weekly export sales report to Friday. CBOT Mar is 2 1/2 cents higher at $4.53 1/2, KCBT Mar is 4 1/4 cents higher at $4.81 1/2, and MGE Mar is 4 1/4 cents higher at $4.96.



Cattle futures are trading lower at midsession. The market is being pressured by forecasts for milder weather in the Plains that will benefit feedlot operations. The market is waiting for cash trade to develop this week, but losses are also being attributed to the premium of the nearby contract to last week's cash market. February is 25 cents lower at $93.98 and April is 23 cents lower at $96.05.



Lean hog futures are lower at midday. Profit-taking following the contract highs set on Wednesday is weighing on the futures market. Cash markets are mostly steady today, but traders are taking caution on ideas that more moderate weather will bring backed up hogs to market and weigh on cash prices. April is 3 cents lower at $68.85 and June is 35 cents lower at $78.23.