Corn futures are trading slightly higher at midday. Spillover support from the recent technical bounce and stronger than expected weekly export sales are supporting futures. In addition, USDA announced the sale of 120,000 tonnes of corn to Egypt in their daily reporting. September is 1 1/2 cents higher at $2.25 and December is 1 1/4 cents higher at $2.41 1/4.

Soybean futures are lower at midsession. Large old-crop soybean stocks and favorable August weather that is helping yield prospects are weighing on the market. Weekly export sales came in below pre-report trade expectations. Losses are being limited by gains in the corn and wheat pits. September is 2 1/4 cents lower at $5.50 and November is 3 cents lower at $5.63 1/2.



Wheat futures are trading higher at midday. Technical buying following the recent reversal higher and option moves ahead of the Friday expiration on September options are supporting futures. The International Grains Council lowered their world wheat production number by 3 million tonnes. Gains are being limited by weekly export sales coming in at the low end of trade expectations. CBOT Dec is 4 cents higher at $3.91, KCBT Dec is 3/4 cent higher at $4.68, and MGE Dec is 2 1/2 cents higher at $4.53 1/2.



Cattle futures are higher at midsession. Contract highs were set in most 2007 contracts as buying interest was triggered by optimism for firm cash trade this week compared to last week's $86 trade. Traders are shrugging off the Canadian BSE case on the assumption that it will not affect trade. October is 50 cents higher at $91.95 and December is up 50 cents at $91.30.



Lean hog futures are trading mixed at midday. The October contract is being supporting by the discount to cash and firm cash bids this week. Deferreds are lower on profit-taking from the recent run higher. October is 33 cents higher at $66.50 and December is 5 cents lower at $62.70.