Corn futures are higher at midday. Spillover support from soybeans and strong export demand are pushing prices higher. Weekly export sales reported this morning were well above pre-report trade estimates at 50.5 million bushels. Drier weather in the Midwest this week will help planting progress, but rain and cooler weather is forecast to return to the Corn Belt this weekend and next week. May is 4 1/2 cents higher at $3.78 and December is 5 cents higher at $4.08 1/4.



Soybean futures are trading solidly higher at midsession. Strong weekly export sales has helped rally the market as demand from China remains strong. Soybean oil is also supporting the soy complex as it is rallying off of strength in Asian vegetable oil markets. In addition soybean oil stocks were below trade expectations in the Census Bureau monthly crush report. May is 6 3/4 cents higher at $10.52 3/4 and November is 7 1/2 cents higher at $9.31 1/2.



Wheat futures are strongly higher at midday. Continued spring wheat planting delays in the northern Plains are pushing the MGE higher. Winter wheat futures are being supported by spillover from spring wheat and better than expected weekly export sales. The weekly export sales report this morning showed combined old and new-crop export sales of 15.8 million bushels, which was slightly above trade expectations. CBOT May is 12 1/2 cents higher at $5.29 1/4, KCBT May is 12 1/2 cents higher at $5.82 and MGE May is 10 cents higher at $6.63 1/2.



Cattle futures are trading higher at midsession. The market is being supported by continued strength in boxed beef prices and expectations for cash trade to be up $1-$2 this week compared to the $88 trade last week. Choice beef prices have rallied to the highest level since last November. June is 83 cents higher at $83.98 and August is 58 cents higher at $83.90.



Lean hog futures are lower at midday with the June contract hitting a three-week low. Further weakness in pork cutouts values and technical selling are pressuring the futures market. Pork cutouts were down another $1.07 on Wednesday. Cash markets have firmed this week, but that may be short-lived as packer margins have turned negative. June is 48 cents lower at $71.90 and July is 33 cents lower at $73.15.