December Corn finished up 10 1/2 at 595, 2 3/4 off the high and 11 1/4 up from the low. September Corn closed up 10 1/2 at 575 1/4. This was 11 1/4 up from the low and 2 3/4 off the high.

The corn market moved higher today and closed on a firm note. Funds were buyers of at least 4000 contracts in corn with substantial buying by funds also noted in wheat and the soybean complex. Reports from around the Midwest are tending not to confirm fears of widespread problems with corn yields, but observers are confirming the lack of maturity, and traders say that this is contributing to growing concern over the potential for frost damage in September. In that same vein, the World Meteorological Organization said today that the first half of 2008 was the coolest such period for the world in at least 5 years. Weather is expected to remain drier than normal into next week in most areas of the Midwest, continuing the trend of the past 10 days or longer in many areas. Dry areas of the east and NE corn belt may get substantial rains, but these have been moved to the end of next week as opposed to the middle of next week in some forecasts. The USDA will issue its Export Sales Report tomorrow before the opening and traders are said to be looking for a third straight week of big sales. Basis levels were steady at the Gulf again today with traders continuing to report that the barge freight market is firm on traffic problems on the Upper Mississippi.

September Rice finished up 0.395 at 17.55, 0.25 off the high and 0.25 up from the low.