July corn was down 3/4 cent at $7.02-1/2 per bushel, new-crop December was up 1/2 at $7.33-1/4. Underpinned by rainfall and flooding in the US Midwest that is harming the 2008 corn crop. But rally capped by profit-taking after fresh highs hit in Asian trading hours. Firm dollar and early weakness in crude oil and gold also limiting gains.