December Corn finished down 7 at 417, 12 3/4 off the high and 4 1/4 up from the low. March Corn closed down 9 at 433 1/2. This was 3 1/2 up from the low and 13 off the high.

The corn market opened moderately higher this morning and traders credited the early strength to a sharp break in the dollar and sharply higher crude early in the day. However, locals and funds were sellers in the early going, and this reportedly pushed corn into commission house sell stops as the December contract fell below the overnight lows during mid morning. The market made another round of new lows in early afternoon, generating further selling by commission houses. Corn lost substantial ground to wheat on the day, and deferred corn contracts lost ground to nearby contracts, continuing a trend that started in the overnight session. Traders said that today's weakness was tied to ideas that harvest progress is starting accelerate for corn in the Midwest and that the combination of new crop supplies and larger than expected carry-in stocks has brought increased farmer selling interest. South Africa saw a jump in corn exports to 81,592 tonnes in the week ended October 3rd. This compares to 46,854 tonnes the week before. Argentina's agriculture secretariat said this week that only 5% of the 3.5 million hectares expected to be planted to corn this year are in the ground compared to 28% at this point last year. Corn planted area is expected to be down to 13.6% lower there this year due to lower prices and dry weather. Recent scattered rains have improved conditions in some growing areas in Argentina. Basis levels were steady at the Gulf today for corn amid a firming trend for soybeans and wheat at the Gulf.

November Rice finished up 0.06 at 17.7, equal to the high and 0.3 up from the low.