Corn futures at the Chicago Board of Trade were firm early Thursday on a short-covering bounce from the sharp declines earlier in the week, traders said.
At 10:44 am CDT (1544 GMT), CBoT corn was up 3-1/4 cents per bushel to down 1 cent, with May up 1 at $4.05-3/4 per bushel. New-crop December was up 2 at $4.03-3/4. Fortis Clearing Americas bought 200 December, Rand Financial bought 300 May, FC Stone bought 500 December and J.P. Morgan sold 700 May.
Corn futures have been falling in step with a massive breakdown in global stock markets. Traders said the fund long liquidation in corn may have ended, which could lead to a recovery in corn futures. Oat futures were unchanged to up 4-1/4 cents, with May up 3-1/2 at $2.68 per bushel.
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