December Corn finished down 4 at 391, 8 off the high and 2 up from the low. March Corn closed down 3 3/4 at 407. This was 2 up from the low and 7 3/4 off the high.

The corn market sold off late in the overnight session in conjunction with strength in the dollar index. Prices firmed to marginally higher on the day by early mid session and then sold off through the remainder of the day, making a new low for the day just prior to the close. Some forecasts call for a bit more rain into Sunday and on through the 6-10 day timeframe, but these forecasts are still relatively close to earlier forecasts. This may be followed by somewhat drier weather than was expected this morning in the 11-15 day timeframe. The USDA announced a sale of 734,000 tonnes of corn to Mexico this morning. It was split between 458,750 tonnes for delivery in 2009/10 and 275,250 for 2010/11. This is the second sale of corn announced to Mexico this week with the combined total coming to 943,983 tonnes. The head of Mexico's national corn producers association said today that Mexican corn production will decline to 21-22 million tonnes due to drought. This compares to the current USDA estimate of 22.5 million tonnes. The CME has stated that they intend to make changes in corn delivery specifications with regard to vomitoxin soon, but they have yet to do so. More wet weather would only serve to increase quality problems related to moisture.

January Rice finished down 0.11 at 15.17, equal to the high and 0.06 up from the low.