March corn was 2 1/4 cents lower overnight. The dollar index was higher and crude oil was lower.

The corn market saw another relatively narrow range yesterday. Prices were lower overnight, but they remained in a narrow range despite taking out this week's lows. Traders said that weakness in crude oil and strength in the dollar are keeping corn near its lows with crude oil making another new low for the move overnight. Cash markets remain quiet with farmers maintaining a tight holding policy in corn. The USDA will issue its latest Export Sales Report this morning and traders are expecting a reduction from last week's total. This week's report will not include the big sales to Mexico that were announced this week. Deliveries against the December contract today were 1,647 contracts in corn with the total deliveries to-date at 8,968.

Major growing areas of Argentina were mostly dry over the past 24 hours and this is expected to continue through tomorrow. In the US, some snow is expected in the NE Plains along with very cold temperatures across the north central US. Mostly dry conditions are expected elsewhere in the Plains and the Midwest through the weekend. Mexico bought another 110,000 tonnes of US corn yesterday. This is in addition to the sales of 330,000 tonnes of US corn announced the day before.