March Corn finished down 3 1/2 at 367 1/2, 8 1/4 off the high and 5 1/4 up from the low. July Corn closed down 3 3/4 at 390. This was 5 1/4 up from the low and 8 off the high.

The corn market opened lower today in line with a stronger dollar and lower crude oil market. Prices remained lower into early mid session and pushed into new lows for the day during mid session. The corn market closed early today at 12:00 noon due to the holiday week. Traders said that today's selling was mainly by specs along with light to moderate selling in corn by spreaders against buying in wheat. The US agriculture attache in India reports that 2008/09 corn exports may drop to 200,000 versus 3 million tonnes last year. This is mainly due to increased export competition from Brazilian corn. Traders cited the higher dollar and a weaker crude oil market as negative price factors today with both of those markets extending their gains/losses as the day wore on. Export sales in corn were in line with trade expectations this morning although this week's total remains well below the average pace needed to reach the USDA projection for the marketing year. Net weekly export sales for corn, came in at 465,400 tonnes for the current marketing year and none for the next marketing year for a total of 465,400. Sales of 735,000 tonnes are needed each week to reach the USDA forecast. Basis levels at the Gulf were steady to start the day, but traders report that demand remains weak with many still citing increased competition from non-US feed wheat as the most significant market factor.

January Rice finished down 0.345 at 13.25, 0.65 off the high and equal to the low.