Corn futures are down slightly at midday. The market is drifting lower amid little fresh news. The market has bounced from contract lows and is expected to hold in a sideways trend near-term. Favorable weather has benefited the crop this month during ear-fill, but not all are convinced that production will grow from USDA's August number. September is 1/2 of a cent lower at $2.57 and December is 3/4 lower at $2.43 1/2.



Soybean futures are trading lower at midday. The market is drifting lower amid improving crop condition ratings and generally bearish fundamentals. Old-crop stocks remain large and production is expected to grow from USDA's August estimate. September is 1 3/4 cents lower at $5.49 3/4 and November is 1 1/4 cents lower at $5.63 1/4.



Wheat futures are trading higher at midsession. The market was expected to open lower, but the recent rebound and technical buying have turned momentum higher. Tightening global supply/demand fundamentals and ideas of improved demand for U.S. wheat are positive fundamental factor. CBOT Dec is 7 1/4 cents higher at $4.03, KCBT Dec is 5 3/4 cents higher at $4.81, and MGE Dec is 4 1/4 cents higher at $4.62.



Cattle futures are trading slightly higher at midday, but market action has been choppy this morning. Traders are waiting for cash business to develop for direction. Firm trade is expected with last week's $86, but packers could limit higher offers due to declining beef prices. October is 28 cents higher at $92.60 and December is 33 cents higher at $91.75.



Lean hog futures are lower at midsession, with the October contract leading the way. Technically overbought conditions and weaker cash bids are weighing on futures as packer margins are poor. October is at a discount to cash, but record open interest has led to some long liquidation. October is 108 points lower at $65.35 and December is 50 cents lower at $62.10.