December Corn finished up 21 1/2 at 616 1/2, 8 1/2 off the high and 22 1/2 up from the low. September Corn closed up 21 1/2 at 596 3/4. This was 22 1/2 up from the low and 8 1/2 off the high.

Corn moved sharply higher today along with wheat and the soybean complex. Traders said that a sharply higher crude oil market and a sharply lower dollar triggered a wave of buying that took a broad spectrum of commodity markets higher during the day. Funds were very strong buyers this morning of more than 9000 contracts and spreaders were also buyers of corn and sellers in wheat. Traders said that some support came on weather concerns this morning, but floor traders noted that the amount of rain has been increased in some forecasts for this weekend for most growing areas of the Midwest with the exception of Ohio which is expecting light rains. The USDA issued its weekly Export Sales Report this morning. Net sales came in at 196,600 tonnes for the current marketing year and 494,900 for next year for a total of 691,500. Cumulative corn sales for the 2007/2008 (current) marketing year have reached 100.7% of the USDA forecast versus a 5 year average of 97.1%. Japan was the biggest buyer at 149,500 tonnes for the current marketing year. Traders report that South Korea, Mexico and Japan may be in the market for corn. Basis levels at the Gulf were steady this morning with supplies said to be tight on light farmers selling and a delayed harvest of corn in the Delta.

September Rice finished up 0.5 at 18.05, equal to the high and 0.18 up from the low.