Corn and bean futures closed higher after spending much of the day down or near unchanged. The late rally for both is attributed to the weakening of the dollar as the FED announced an additional bond buying program to help stimulate the economy. The QE3 comes in the form of buying mortgage debt each month on an open ended basis at the cost of $40 bln. Today’s move in the dollar is a new low and the lowest it has been since early May (chart below). Interest rates are expected to remain around record low levels until 2015 compared to earlier projections of 2014.