Corn futures at the Chicago Board of Trade were range-bound early Wednesday as the market tried to bounce after falling nearly 20 cents since last week's high, traders said.
The corn market was technically oversold. The nine-day relative strength index for December on Tuesday fell to 30, the benchmark viewed as technically oversold.
Corn futures were down 3/4 cent to up 1-1/4 cent per bushel by 10:10 am CDT (1510 GMT). September was down 3/4 cent at $2.18-1/2 and new-crop December was up 1 cent at $2.27-1/2.
Nearby support in December corn was seen at $2.25 and resistance at $2.28-3/4. Early trade was quiet, with local traders featured players, floor sources said.
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