Corn futures on the Chicago Board of Trade opened higher on Wednesday in line with surging crude oil, but turned mixed when crude fell from the day's highs, traders said. At 10:10 am CST (1610 GMT), CBOT corn was up 1/2 cent per bushel to down 3, with December unchanged at $3.85-3/4 per bushel.
Some positioning may surface ahead of Friday's USDA November crop report but traders said outside markets were the overriding consideration for corn futures. Export activity overnight and early on Wednesday featured Turkey's purchase of 150,000 tonnes of US corn, European traders said on Wednesday. Turkey is usually an exporter of corn but drought this year cut into Turkey's crop output.
The December contract is above all key moving averages with first key support at its 200 day moving average of $3.74 per bushel. The nine-day relative strength index closed on Tuesday at 67. Oat futures were down 4-1/2 cents to up 1 cent per bushel, with December down 4-1/2 at $2.92-1/4 per bushel.
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