July corn was trading 6 1/4 cents higher into 7:30 AM central time. Outside market forces look bullish today with a surge up in equity markets, weakness in the US dollar and strength in metal and energy markets. The supportive outside forces, a strong cash market and a less bearish weather outlook for the 6-10 day and 11-15 day models could help support corn over the near-term. At least into yesterday, traders see enough rain in the forecast to hold crop conditions together into pollination and selling emerged to see December corn close at the lowest level since May 14th. The 11-15 day models now show much above normal temperatures for the heart of the Corn Belt and a little less rain for the heart of the Corn Belt next week. China weather is also a concern with hot and mostly dry weather for the northern China plains area. Near $5, traders see China as an interested buyer of new crop corn. Basis levels jumped near 5-6 cents at the gulf yesterday and there are rumors of cash trading as high as 70 cents over in central Illinois. Published bids are still 53 cents over July for Decatur. There are no registrations for July corn deliveries and there is still talk that some exporters are long and will await delivery. December corn closed 16 lower yesterday and July closed 1/2 cent lower. Fund traders were noted as aggressive sellers of new crop due to better than expected crop conditions and July was firm due to cash market strength. Traders see cooler and wetter weather for the southern Midwest and northern delta dry areas for next week and this is expected to ease stress on the crop right into pollination. There could be some dryness stress into early next week after several more days of dryness but the weather is not seen as threatening enough to spark interest from speculators. A revision higher in production from Brazil and a lack of near-term demand for exports from the US helped to pressure. Brazil pegged the corn crop at a record high 67.79 million tonnes, from a May estimate of 65.9 million.