Corn Moves lower

Corn futures are trading a little lower Wednesday erasing early gains and extending Tuesday's declines. May Corn is trading at 369 1/4, down 1 1/2 cents. July Corn is trading at 377 1/4, down 1 3/4 cents. December Corn is trading at 394 3/4, down 2 1/4 cents. Chatter that U.S. farmers may have not sold enough old crop corn is making the rounds and has led to some pressure on rallies.