December Corn finished up 11 3/4 at 584 1/2, 8 3/4 off the high and 23 1/2 up from the low. September Corn closed up 11 3/4 at 564 3/4. This was 23 1/4 up from the low and 9 off the high.

A lower open in the grains this morning attracted buying by locals and funds. This sent the corn market higher on the day into early mid session, with the rally setting off commission house buy stops in thin trade according to floor traders. Funds bought 5000 contracts in corn early in the session. Traders also noted that weather concerns are again a factor in corn with the lateness of the corn crop raising renewed concerns over the potential for an early frost. Corn sold off sharply along with soybeans and wheat starting in late morning and briefly traded lower on the day. But while wheat and the soybean complex remained lower into the close, corn rallied to close substantially higher. Weather was a minor factor in corn on the open according to floor traders with some private forecasters indicating that yield and crop conditions in the Midwest may be better than indicated on last week's USDA S&D Report. Other reports have indicated poor kernel development at the end of ears of corn in some areas. Traders say that South Korean feed mills are in the market for more feed corn and meal after sitting on the sidelines in export markets during much of the summer. Basis levels at the Gulf were unchanged for corn today with light farmer selling contributing to tight supplies. Lower water levels on the Upper Mississippi are resulting in traffic being restricted to one-way in some location while channels are dredged. Basis levels were also mostly steady in the interior.

September Rice finished up 0.5 at 17.155, equal to the high and equal to the low.