Corn futures at the Chicago Board of Trade were higher early Tuesday due to a combination of follow-through technical buying from the past two sessions and commercial pricing, traders said.
Early strength stemmed from a rally in the CBOT soybean pit on rust fears. But even when soybeans turned lower, corn held firm.
US Midwest cash basis markets were steady to firm early Tuesday, even with a pick up country sales. CIF values for corn at the US Gulf were steady.
CBOT corn futures were 1/4 to 3/4 cent per bushel higher by 11 am CST (1700 GMT). December corn was 3/4 cent firmer at $2.03-1/4.
Nearby support in December was pegged at $1.97 per bushel and resistance at $2.05.
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