December Corn finished down 1 3/4 at 590 1/2, 17 1/2 off the high and 27 3/4 up from the low. September Corn closed down 2 at 571 1/2. This was 27 3/4 up from the low and 17 1/2 off the high.

Corn opened higher and sold off into mid session on selling by locals and funds. Funds were sellers of about 3000 contracts in corn through mid session today. Although this is a smaller amount than funds have sold in recent sessions, it was heavier than fund selling in other markets today. The corn market firmed during late morning and into early afternoon and closed slightly higher. The chairman of the Senate Agriculture Committee - Sen. Harkin of Iowa - urged the EPA to deny Texas' petition to waive half of its Federal ethanol mandate. A hearing on that petition has been delayed until next month and expectations are that it will be denied. Weekly export sales for corn, released before the open, came in at 323,500 metric tonnes for old crop and 499,600 for new crop for a total of 823,100. This was near the high end of trade expectations. Sales of 189,000 tonnes are needed each week to reach the USDA forecast for this year. Total sales to date stand at 98.1% of the USDA forecast versus a 5 year average of 95.2%. An oil spill closed the Mississippi from New Orleans to the Gulf of Mexico today. Basis levels at the Gulf remained steady.

September Rice finished down 0.5 at 16.77, 0.53 off the high and equal to the low.