December corn opened 29 cents lower on the session at 425 and established an early range of 424 to 431. The lower open attracted buying support that brought a modest rally into early mid session, but this was followed by repeated testing of the early low during mid session. Selling was by a mixed bag of locals, commission houses and funds according to floor traders. This week's export inspections were 33.5 million bushels, down from last week's total of 40.5 million bushels. Inspections need to average 38.5 million bushels each week to reach the USDA projection for the marketing year that started on September 1st. Basis levels at the Gulf were mostly steady to start the week. This follows a week where levels rose in response to a sharp drop in futures prices. Barge freight markets were higher along the river and traders say that recent declines in ocean freight rates have stimulated some export buying interest. However, traders say that the credit crisis has disrupted the availability of export letters of credit and that this is holding back the level of trade.