December corn was 14 cents lower overnight. The dollar index made another new high for the move overnight and crude oil was lower.

Yesterday, the corn market firmed from its early weakness to close modestly higher on the day. However, an increasingly negative world economic outlook and a higher dollar brought another sharp break overnight with that session finishing near its lows. The USDA's Export Sales Report is due out this morning after being delayed by one day due to the Labor Day holiday. Traders are expecting a number below last week's strong total. Today's deliveries against the September contract were somewhat heavier than yesterday at 251 contracts. Traders at the Gulf indicate that grain load outs will probably resume today. Power was restored to most elevators earlier this week and the lower reaches of the Mississippi reopened to traffic yesterday, removing all impediments to grain flow. Rains in the Midwest should help to restore water levels and bring normal navigation on the Upper Mississippi as well.

Rain was heavier than expected across much of the central corn and soybean belts over the past 48 to 72 hours. It is expected to push more fully into Indiana and on into western Ohio today. This will mean more widespread coverage than was expected earlier this week. Cool temperatures are the next big story with below normal temperatures expected to push into the NW and northern Midwest by this weekend, possibly extending across all major growing areas by next Tuesday. Still no forecast of a major frost. There are no new cash tenders to report.