July corn traded 4 cents lower overnight. The dollar was higher.

Corn broke sharply again yesterday but recovered late in the session to close lower in the July contract but near the midpoint of the day's range. Traders indicate that selling remains based on somewhat drier forecasts for major corn growing areas and the possibility that planting progress in corn could approach normal levels by sometime next week. The earthquake in the Sichuan province of China has curtailed corn shipments into that province, which has brought lower prices on the Dalian futures market this morning. That province produces about 10% of China's pork. Export sales are due out tomorrow morning, and traders are looking to this report for an indication of near term demand. Recent export sales and export inspections numbers have been below expectations. Deliveries against the May contract today were 192 contracts.

Moderate rains fell overnight in southeastern Missouri, central Illinois and in much of Indiana. Rain is expected today in eastern Illinois and southeastern Missouri and on into the eastern Midwest. Further rains are expected tomorrow in the southern Corn Belt and on into eastern Ohio basin. Further rains are expected in the eastern Midwest again on Friday with two days of generally dry weather across all growing areas on Saturday and Sunday. This should allow good planting progress this week, with most traders expecting to see planting progress in excess of 25% for this week on the next report. No new tenders are reported. Turkey is tendering for 150,000 tonnes of corn.