December Corn finished down 9 1/2 at 367, 11 3/4 off the high and 1 up from the low. March Corn closed down 9 1/4 at 381. This was 1 up from the low and 11 1/2 off the high.

Corn traded substantially lower today as part of a broad sell off in grains. Traders said that a combination of favorable crop weather in the US, sharply lower energy markets and a weak employment report all contributed to the selling. Forecasts call for dry and warmer weather in the Corn Belt this weekend with dryness still expected to continue in most of the belt into the 6-10 day timeframe. Cash traders indicate that more corn has come into the supply pipeline in the US this week with the pace of farmer selling expected to increase as the harvest advances in coming days and weeks. One cash trader noted that this is the sort of selling that normally would have occurred at least 1 month ago if weather had been closer to normal going into harvest. Analysts are expecting the USDA to drop their estimated corn yield by about 1 bushel per acre on Tuesday's Crop Report. This compares to 164.2 bushels per acre on the USDA's October report. This would result in a drop in production of about 80 million bushels from the October production total of 13.018 billion bushels. Most production estimates, however are down about 25 million bushels with a very wide range due to the lack of harvest progress. Ending stocks for corn in 2009/10 are expected to be near 1.625 billion bushels versus the October stocks number of 1.672.

November Rice finished down 0.015 at 14.95, equal to the high and equal to the low.