March corn was 7 3/4 cents higher overnight. The dollar was modestly lower. Deliveries against the December corn contract were 1,128 contracts this morning. The total for the delivery period to-date stands at 5,056 contracts. A rally overnight kept the March contract in positive territory for the week despite yesterday's sell off. Traders indicate that corn is in a directionless to positive mode that is being boosted by an inflationary outlook in commodity markets. However, they note that gains have been limited by periodic bouts of selling by funds that some traders tie to the fact that trend-following (managed) funds are still holders of a big net long position. T he outlook is also mixed to positive on the export front according one analyst who notes that sales fell off in late October and early November to below the average levels needed each week to reach the USDA's current export projection. Sales have jumped back above that average on the two latest Export Sales reports, with some tying these increases to lower prices in mid to late November. Overall, cumulative export sales in corn are running slightly ahead of the average pace for this point in the marketing year. Yesterday's sales were in line with trade expectations at 758,100 tonnes. South Korea, Mexico and Japan were the biggest buyers. The USDA also announced two daily sales that were not included on the weekly report. One was for 238,000 tonnes of US corn to unknown destination for the 2010/11 marketing year. In addition, Japan bought 135,128 tonnes of US corn for 2011/12 season. Weather concerns center mainly on Argentina and Brazil at this time of year and overall conditions there are also mixed to somewhat positive with good moisture levels and favorable conditions seen in corn growing areas of central and southern Brazil. The Argentine corn crop needs moisture in central and eastern growing areas, but conditions are mostly favorable in western and central growing areas.