December corn opened 6 1/2 cents lower on the session at 763 1/2 and experienced an early range 762 to 768. Talk of the overbought condition of the market plus weakness in wheat and a strong US dollar helped pressure the market early in the day. A rally in soybeans on a cold weather forecast into later next week helped to support a bounce off of the lows. In addition, further steep declines in crop conditions from key US states was also seen as a factor to help support the market on the break. The market has posted contract highs in 5 of the past 6 sessions so traders believe that part of the lower crop conditions is already priced.
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