May Corn finished up 5 1/2 at 561, 1 3/4 off the high and 13 3/4 up from the low. December Corn closed up 7 1/2 at 576. This was 14 up from the low and 2 off the high.

A lower open in May corn this morning came in response to weaker soybean and wheat markets according to traders. Prices remained lower and in a relatively narrow range well into mid session before staging a sharp recovery rally that took out Wednesday's high for the move. The rally was unexpected according to floor traders and it came despite continued weakness into the close in soybeans and wheat. Corn gained sharply on wheat on the day and floor traders reported moderate activity in that spread. New crop December also gained on the May and July contracts. Some traders reported that the late run up was on renewed concerns over wet weather in the eastern and southern Corn Belt that continues to delay planting progress. The International Grains Council released its latest world production estimates for corn and wheat today. Corn production was estimated at 748 million tonnes, down 20 million from last year. World ending stocks are already tight and the 748 million tonne estimate is 24.3 million tonnes below this seasons expected usage. Traders are looking for a significant drop in planted area for the key report for release Monday morning and this may have helped support the strong gains later in the session. March 1st grain stocks may also impact trade on Monday.

May Rice finished up 0.345 at 19.65, 0.155 off the high and 0.15 up from the low.