Corn futures at the Chicago Board of Trade continued to rise early Wednesday on follow-through buying by commodity index funds after their buying spree Tuesday, traders said. May corn was up 1-1/2 cents at $2.11 per bushel, with the deferreds 1-1/4 to 2 cents higher by 10:55 am CDT (1555 GMT). Funds were early buyers of CBOT corn futures, following their moves on Tuesday.
Commodity index funds were big buyers of all US commodities on Tuesday, driving the Reuters CRB Index of 17 commodity futures more than 2 percent higher. Much of the buying on Tuesday stemmed from a new index fund with at least $500 million to invest in commodities, floor traders said.