Corn futures are trading higher at midsession. The market is being supported by the rebound in crude oil futures and the stock market along with spillover buying from soybeans. Weather remains a concern for corn traders as current cool and wet conditions and forecasts for more rain point to some planting delays. May is 1 1/2 cents higher at $3.97 3/4 and December is 1 1/2 cents higher at $4.29.



Soybean futures are higher at midday, led by old-crop contracts. Strong export demand and expectations that USDA will tighten the old-crop ending stocks projection further on Thursday morning are supporting futures. New-crop has been pulled higher as well, although only small gains are being seen so far today. May is 15 cents higher at $10.04 1/2 and November is 3 1/2 cents higher at $9.12.



Wheat futures are steady to higher at midsession. The rally in soybeans and concern about possible freeze damage in the southern Plains winter wheat crop are supportive factors. Gains are being limited by the northern Plains drying out after recent flooding and forecasts for rainfall in the southern Plains. Traders are also positioning ahead of the Supply/Demand report due out Thursday morning. CBOT May is unchanged at $5.39 3/4, KCBT May is 1/4 of a cent higher at $5.90 1/4 and MGE May is 4 1/4 cents higher at $6.66.



Cattle futures are trading higher at midday. Strength in boxed beef prices and expectations for firm cash trade this week are supporting futures trade. The ability of the stock market to move higher is also supportive as it was expected to trade lower this morning. April is 15 cents higher at $86.43 and June is 43 cents higher at $84.18.



Lean hog futures are mixed at midsession. Steady to lower cash markets and the premium of futures to the CME lean hog index are weighing on front end contracts. However, deferred months are being supported by the outlook for tightening hog supplies and ideas of improving seasonal demand following the $1.39 bounce in pork cutouts prices yesterday. April is 33 cents lower at $58.85 and June is 18 cents lower at $73.28.