July Corn finished up 17 3/4 at 630 3/4, 3 1/4 off the high and 18 1/4 up from the low. December Corn closed up 16 at 646 1/2. This was 16 3/4 up from the low and 2 3/4 off the high.

Corn opened higher and rallied early in the session on heightened concerns over planting delays across the Midwest. The new crop December contract made a new all-time high early in the day and this was followed by a new all-time high in the July contract. Old and new crop contracts pulled back from the highs prior to the close, but still managed to close sharply higher at new all-time high levels. This week's export sales came in at 337,200 tonnes for old crop and 63,300 for new crop. Sales of 403,300 tonnes are needed each week to reach the USDA projection. Total sales to date stand at 89.0% of the projected total compared to a 5-year average of 79.0%. Japan and Mexico were the biggest buyers. The EU issued export licenses for 137,000 tonnes of corn this week which takes total licenses for the year up to 12.3 million tonnes. Much of the Corn Belt has gotten 1-2 inches over the past day and a half, and more rain is expected on Sunday and again starting on Wednesday. Traders fear that this could seriously delay planting progress in a number of key areas from today through the end of next week. Positioning ahead of the USDA supply/demand report for release in the morning added to the positive tone. Basis levels at the Gulf were mostly lower for corn today.

July Rice finished up 0.75 at 22.35, equal to the high and equal to the low.