According to Schulman, yes, yes indeed:
"Top Cubs evaluator watched last night’s game. Cubs have good catchers in minors, could move Soto or Hill, tho I’m told no talks with Gs now."
First thought? Odd. Given the Cubs current need to be sellers, why would they be desiring any current Giant on the major league roster? They do have their large contracts like Carlos Zambrano and Alfonso Soriano, and we’ve all heard the Rowand for Soriano rumors dating back a few centuries – but I can’t imagine those would be the actual potential swaps.
My guess is they could have been there for the Padres (in addition to the Giants since both clubs are expected to be heavy in trade talks, kill two birds…) or having a semi pow-wow with Giant brass/scouting department. A little helpful GM work, before a Sabean/Hendry late night phone call, if you will.