July corn was trading 1 cent lower into 7:30 AM central time. Outside market forces look slightly positive today with a weaker US dollar and some strength in equity markets. December corn was up as much as 3 cents overnight on increased concerns for the longer-term weather outlook. There looks to be scattered rains for much of the next 5-6 days before another high pressure ridge forms over the Midwest to bring in more above normal temperatures and below normal precipitation into mid-June. Producers are hoping for big coverage in the next few days as a cushion against drier weather into mid-June; especially for crops in the delta which are pollinating and for parts of southern Illinois and Indiana which are extremely dry. While there are some concerns for the US yield outlook if areas come up short of moisture in the next few days, there seems to be growing concerns with a dry forecast for the next week or more for the China northern plains as stressful conditions are likely if it remains dry for another week or more. Ukraine corn production this season could reach a record high 26-27 million tonnes from 22.7 million last year and from near 5 million tonnes just 5 years ago. July corn followed outside market forces down early in the session yesterday to drive nearby corn futures to the lowest level since December of 2010 as traders are nervous with the fund long liquidation selling trend. The market recovered and December corn pushed a few cents higher on the day into the close as traders are nervous over the weather outlook. Traders are concerned that the rains this week and into next week will only ease dry topsoil conditions and will leave the market in need of timely rains in order to avoid further stress into mid-June. The sharp break in energy and equity markets plus sharply higher trade in US dollar helped to pressure. Ideas that China could begin to import Argentina corn in the next 60 days once GMO issues are resolved was also seen as a negative force. More reports of rootless corn problems in parts of Iowa and Illinois helped to support. Weekly ethanol production will be released today and export sales tomorrow.