Corn futures are trading lower at midsession. Swine flu concerns are weighing on the market as traders worry the spreading virus could hurt meat consumption, which would in turn hurt feed demand. Strong planting progress last week is a bearish factor, although rainfall in the western Corn Belt over the weekend and rain in the central and eastern Corn Belt early this week will slow planting progress. USDA will update planting progress this afternoon and traders look for 15%-20%, down from the 5-year average of 28%. May is 5 3/4 cents lower at $3.71 1/4 and December is 6 cents lower at $4.00 3/4.



Soybean futures are strongly lower at midsession. The market is concerned that the potential spread of swine flu could lead to reduced meat consumption and feed use. Rain this week in the Corn Belt will lead to some more corn planting delays, which could eventually lead to acreage switching to soybeans. Traders are expecting soybean planting progress this afternoon to be reported at around 3% compared to the average 4%. May is 24 1/4 cents lower at $10.16 and November is 21 3/4 cents lower at $9.11 1/2.



Wheat futures are lower at midday. Long liquidation and profit-taking is weighing on the market amid concerns about the swine flu outbreak. Winter wheat is also being pressured by recent beneficial rainfall in the Plains. However, losses at the MGE are being limited by more wet weather in the northern Plains that will further delay spring wheat planting progress. CBOT May is 12 1/2 cents lower at $5.19 3/4, KCBT May is 9 1/2 cents lower at $5.76 3/4 and MGE May is 2 3/4 cents lower at $6.62 1/4.



Cattle futures are mixed at midday. Concern that the swine flu outbreak may keep consumers at home and buying less beef is a bearish concern. In addition, beef prices turned lower last week and cash trade was only able to trade steady at $88. However, some contracts have been able to bounce higher as the stock market is trading slightly higher. April is 15 cents lower at $86.70 while June is 13 cents higher at $82.70.

Lean hog futures are sharply lower at midsession. The swine flu outbreak, which isn't believed to be spread by hogs or pork, is weighing heavily on futures on worries that the flu outbreak will hurt meat exports. China and Russia have already banned pork imports from several states that have been affected by swine flu. June is $2.75 lower at $68.90 and July is $2.85 lower at $69.75.