Corn futures finished slightly higher for old crop and slightly lower for new crop.
A U.S. research team is predicting lower corn yields in the next couple of years because of more marginal land coming into production due to recent profitability in corn.
Private exporters announced the sale of 240,000 MT of corn for 2011/12 delivery to unknown destinations.
Cash basis levels were mostly steady around the Midwest. There was some increased gain movement the last couple of days with the corn rally. Warmer than normal temperatures are signaling an early beginning to spring but late season frosts and freezes are a threat in a year of weather extremes. However, the NWS forecasts temperatures for March, April and May will be above normal on average with precipitation normal for most of the country with the southwest below normal and the eastern Corn Belt (IN, OH, MI and Kentucky) above normal for the period.