December Corn finished up 28 1/2 at 780 1/2, 1 1/2 off the high and 33 1/2 up from the low. September Corn closed up 28 3/4 at 761. This was 33 1/2 up from the low and 1 1/4 off the high.

The corn market opened lower this morning, but immediately began a powerful rally that took prices sharply higher by early afternoon with the July and December contracts touching limit up in the final minutes of the session. Volume was said to be light and featureless early in the session and marked by short covering and scattered local and commission house buying. Cash markets were quiet throughout the day. Traders in all markets were said to be "waiting." Cash traders are waiting for export business to pick and for the Upper Mississippi to fully reopen. Floor traders are waiting for news, with the results of tomorrow's Export Sales Report being the only market news on tap. And almost everyone is waiting for the holiday weekend. Overall, though, the focus has shifted back from the demand side to new threats against the supply side according to one analyst. Hot weather forecasts for next week and beyond are now coming with less rain in some cases than previously forecast and this may cause stress to the late corn crop. These worries go hand-in-hand with the market's increased focus on frost dates and the possibility that the corn crop could still be maturing when those dates finally arrive. Talk also continues to circulate about possible changes in the US ethanol mandates. The EPA is set to decide on Texas' request for a partial waiver of the ethanol mandate for that state. The CCC has announced that it is seeking 50,000 tonnes of corn for aid to North Korea. Basis levels at the Gulf were steady today in quiet trade.

September Rice finished unchanged at 18.8, 0.1 off the high and 0.15 up from the low.