Corn futures are trading firm at midday. Fund buying is driving the market higher as open interest is record higher. Strong demand the past few weeks and forecasts for warmer, drier weather in Argentina next week are supportive factors. March is 2 1/4 cents higher at $2.22 3/4 and May is 2 3/4 cents higher at $2.33.

Soybean futures are slightly higher at midsession. The market is choppy and range-bound. Spillover support from corn and wheat has pulled prices higher, but gains are being limited by bearish fundamentals and recent rainfall in Argentina. March is 1/2 of a cent higher at $5.84 1/2 and May is 1/4 of a cent higher at $5.97.

Wheat futures are trading higher at midday. Follow-through technical strength and continued fund buying are supporting prices. Open interest is at record levels and the KCBT has hit new highs this morning. Forecasts look dry in the southern Plains over the next week. CBOT Mar is 5 1/2 cents higher at $3.52 3/4, KCBT Mar is 5 3/4 cents higher at $4.08 1/2 and MGE Mar is 1 1/2 cents higher at $4.01 1/2.

Cattle futures are mixed at midsession. Short-covering ahead of the weekend amid oversold conditions has offered light support. Declining cash and beef markets have limited gains. Technically, the market is bearish after dipping to the lowest level since October. February is 3 cents higher at $92.63 and April is 10 cents lower at $90.30.

Lean hog futures are mostly lower at midday. February is slightly higher as positions are rolled to April. Deferreds are lower due to weak cash markets and declining pork prices. Pork cutouts fell $1.63 on Thursday. April is 20 cents lower at $59.88.