May corn was trading 2 1/4 cents higher late in the overnight sessions. Outside market forces look negative this morning with a collapse in gold, sharply lower trade in equity markets and a jump in the US dollar overnight. Even with the bearish forces, May corn managed to trade as much as 5 1/2 cents higher overnight. Cash markets remain strong and bull spreads are working well as producer selling is tight. Traders indicate that producers are busy with fieldwork and planting and there seems to be very little interest in selling just yet. Excellent weather for a very fast planting season and bull spread activity has helped to limit the buying support for December corn. The release of the Fed Reserves minutes from the policy meeting in March sparked aggressive long liquidation selling late in the session yesterday to give back a most of the early gains. Funds were noted buyers on the day but sellers late, as the US dollar surged and gold and equity markets were hit hard. The market faces similar weakness from outside forces this morning. Talk of tight holding from producers and limited supply going into the late spring helped to support the market. The tight cash situation with stronger basis levels noted helped to support nearby corn relative to other grain markets and supported a strong rally in May corn and bull spreads worked well. The Argentina Rosario grains exchange pegged the 2011/12 corn crop at 19.7 million tonnes, down slightly from their previous estimate and down from the March USDA estimate of 22 million tonnes.