Corn futures at the Chicago Board of Trade turned weak early on Tuesday on a setback after speculative short covering. Monday boosted the market to near overbought technical levels, traders said. The nine-day relative index for March closed Monday at 64, near the benchmark 70 level that chartists view as one indicator of an overbought market. At 10:14 am CST (1614 GMT), March corn was down 1/2 cent at $2.00 per bushel. Other months were 1/4 to 1-1/4 cents per bushel lower.
Man Financial sold 600 March, Refco Inc sold 100 March and FIMAT Futures sold 100 March, pit sources said.
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