Corn Futures Rise on Buying Support, Then Fall as Profit Taking Hits

Corn futures saw buying support early in the session from chart-based speculators and benefited from a weaker U.S. dollar index and higher crude oil prices.

However, some late profit taking pushed prices below unchanged on the day, with December corn falling 2 1/2 cents to $5.43 1/2.

Traders await Thursday morning's weekly USDA export sales report for guidance, while World Weather Inc. noted that too much heat and dryness in the southwestern U.S. Corn Belt may be cutting into some yields.