July corn was trading near unchanged and December down 3 1/2 cents into 7:30 AM central time. Outside market forces look positive this morning but traders see the weather as less threatening with less heat for next week. China futures were up 0.6% overnight. There is some rain and cooler weather for the Midwest for early this week but the heat in the forecast for next week is not nearly as strong as indicated on Friday and this opens the door for timely rains and better pollination weather. Traders still see 1/4 to 3/4 inches of about 75% coverage for the Corn Belt for the next few days which could ease stress. Traders see a 2-3% drop in crops rated good to excellent for the weekly update this afternoon. For the USDA supply/demand update for Tuesday morning, old crop ending stocks are expected to decline by 25-30 million bushels as compared with 851 million bushels posted last month. Some traders see higher ethanol and lower exports which could hold the stocks number unchanged. New crop ending stocks are expected near 1.75 billion bushels from 1.881 billion last month. South Korea bought 108,000 tonnes of corn for July through November delivery. The market worked through questionable outside market forces on Friday and still pushed higher. Talk of a hot and dry extended forecast into the pollination period helped provide underlying support but the ridging pattern was not as prevalent in the weekend maps and traders now see less threatening weather for next week as well. In addition, reports that a major satellite forecasting firm sees corn production down about 1.2 billion bushels from the USDA forecast may have sparked some buying support on Friday. December pushed to the highest level since May 22nd as the market followed the weather concerns and not the macro-economic concerns from Europe as a guide. Southern parts of Missouri and Illinois could be pollinating now or soon and topsoil dryness stress could be an issue so these areas will be watched closely for coverage in the next few days. The Commitments of Traders reports as of June 5th showed Non-Commercial traders were net long 90,016 contracts, a decrease of 22,615 contracts for the week and the aggressive long liquidation selling trend was seen as a short-term negative force. Non-Commercial and Nonreportable combined traders held a net short of 32,162 contracts, up 9,564. Commodity Index traders held a net long of 398,395 contracts, down a significant 7,573.