July Corn finished down 8 at 591, 17 1/2 off the high and 3 1/2 up from the low. December Corn closed down 5 3/4 at 616 3/4. This was 3 3/4 up from the low and 15 3/4 off the high.

Yesterday's sharp reversal from lower levels was followed today by a sharp reversal from higher levels today. Corn opened higher in line with soybeans and wheat as well as higher outside markets, but prices eroded steadily throughout the day to finish sharply lower. Traders cited expectations of excellent planting weather across the Midwest this weekend along with softer bids at the Gulf as reasons for the decline. Weather is also expected to be warmer than previously forecast according to floor traders which reduces concern about a slow rate of emergence and diminished early development for corn that is already in the ground. The USDA will issue its next Crop Progress Report on Monday afternoon. It will report on progress through Sunday and traders are expecting an increase in total amount planted of 25% or more. This is scaled back somewhat from earlier in the week when traders' projections were running closer to 30%. Progress is expected to be most pronounced in the western corn belt. Weather there has been drier than in the east and south over the week to date.

July Rice finished down 0.275 at 20.065, 0.525 off the high and 0.405 up from the low.