US MIDDAY: corn declines on spillover selling

Corn futures at the Chicago Board of Trade were lower early on Friday on spillover selling by speculators after a steep slide in soy, traders said.
Pressure on the market also stemmed from active harvest of what may prove to be the second largest corn crop ever in the United States, they said.
At 10:08 am CDT (1508 GMT), CBOT corn was 1/2 to 1-1/2 cents per bushel lower, with December down 1-1/2 at $2.01-1/4 per bushel.
Pit sources said locals were the main sellers. Goldenberg Hehmeyer sold 200 December while Citigroup and O'Connor and Co each bought 1,000 December, they said. Traders and analysts said persistent reports of solid corn yields in the 2005 US harvest continued to cast a bearish pall over corn futures prices.