Corn futures are trading slightly lower at midsession. The market has been choppy this morning in consolidation mode ahead of the weekend. While there will be a window of improved harvest weather this weekend, another round of showers is expected in the Corn Belt early to midweek. Futures have turned lower on weekly export sales coming in at the low end of trade expectations and outside markets turning a little bearish. December is 1 1/2 cents lower at $3.71 1/2 and March is 1 1/2 cents lower at $3.83 1/2.
Soybean futures are lower at midday. The market traded higher at times this morning on concern that the freeze in the upper Midwest and the wet conditions in much the South will trim yields and hurt soybean quality. Harvest progress will remain well below normal, although a small window of better harvest weather will be seen this weekend and early next week. But profit-taking and outside markets turning bearish are weighing on soybean futures. November is 1/2 cent lower at higher at $9.82 1/2 and January is 1 1/4 cents lower at $9.86 1/2.
Lean hog futures are lower at midsession. Pre-weekend profit-taking is weighing on the market. Cash markets are generally steady today in limited action as most packers have their needs covered into next week. Despite strength in pork cutouts this week, the market remains concerned about sluggish export demand and ample hog supplies. December is 73 cents lower at $53.75 and February is 53 cents lower at $60.18.