December corn was up slightly late in the overnight session. Outside market forces look somewhat positive with a weaker US dollar and strength in energy and metal markets. The market has absorbed heavy selling from fund traders in recent days, and a turn back to more positive outside market forces could slow this selling. Ideas that the break back to the $6 level might attract increased demand helped to provide some underlying support. Livestock production in the US has turned more profitable, hog supply is higher than last year, and cattle on-feed supply is still up 4% from last year. Ethanol production is profitable, and this may also spark commercial buying interest in the short-term, especially if energy prices remain high. The weekly update from the USDA showed the corn harvest was 96% complete, compared to 93% last week and 99% last year. The 10 year average for this time of year is 88%. Ohio is 69% harvested, compared with 88% on average. December corn closed sharply lower on the session yesterday. It is now down as much as 72 3/4 cents off of the November 9th peak after falling in 7 of the 8 trading sessions since the bullish USDA November crop update. Funds were noted as aggressive sellers again yesterday, with a long liquidation selling trend noted for many key commodity markets, including gold and copper. Weakness across a wide spectrum of commodity markets based on increasingly bearish economic forces plus talk of the hefty net long position from fund traders helped to drive the market sharply lower on the session and down to the lowest level since October 5th. December 2012 corn pushed down to the lowest level since March 31st on continued fears of increased planted area for next year. Weekly export inspections came in at 37.56 million bushels, which was higher than expected and higher than the 34.56 million necessary each week to reach the USDA forecast for the season. Cumulative shipments, however, have reached just 18.5% of the export forecast for the season, compared with 22.7% as the 5-year average for this time of the year. The Commitments of Traders reports as of November 15th showed non-commercial traders were net long 220,608 contracts, a decrease of 18,381 contracts for the week. The selling trend is seen as a short-term negative force. Open interest was down 22,345 contracts for the December futures to 321,122 contracts. South Korea bought 55,000 tonnes of optional origin corn for end of March shipment.