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Corn futures at the Chicago Board of Trade were weak early on Friday on a setback from Thursday's fund-led rally, traders said. Bird flu concerns and abundant US corn stocks continue to act as an anchor on the market but there remained some underpinning for corn futures because of hesitancy among traders to sell corn futures amid bouts of fund buying.
At 10:22 am CST (1622 GMT), CBOT corn was down 1/2 to 1-1/4 cents per bushel, with March down 1/2 at $2.28 per bushel. May was down 3/4 at $2.38-1/2. There was another round of heavy March deliveries, 1,351 lots, on Friday - reminders of ample US supplies and CBOT corn registrations were unchanged at 2,262 lots.

Copyright Reuters, 2006

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