March Corn finished down 1 1/4 at 395 1/4, 6 1/4 off the high and 3 3/4 up from the low. July Corn closed down 1 3/4 at 417 1/4. This was 2 3/4 up from the low and 6 3/4 off the high.

The corn market opened higher along with wheat and soybeans this morning and then followed those markets lower into early mid session. Traders said the early strength stemmed from a drop in the dollar prior to the opening. Corn prices rallied from the early mid session lows into late morning, but remained well short of the early highs. Basis levels were steady at the Gulf with sources there indicating that light demand and strong competition has become an ongoing feature of the export market in corn. Dry and cold weather across most of the Midwest is expected to allow the corn harvest to advance rapidly into the weekend. Weather in Argentina is considered supportive to corn prices with hot and dry conditions prevailing there, especially in central Argentina. Scattered light rain is forecast in southern growing areas early next week, but the corn crop is said to be experiencing increasing stress.

January Rice finished down 0.14 at 13.745, 0.155 off the high and 0.125 up from the low.