US MIDDAY: corn moves up on light short covering

12 Oct, 2005

Corn futures were firm early on Tuesday on light short covering ahead of the release early Wednesday of USDA's October crop production and supply/demand reports, traders said.
At 10:15 am CDT (1515 GMT), CBOT corn was up 1/4 to 1-1/4 cents per bushel. December was up 1 at $2.03 per bushel.
FIMAT Futures and ABN Amro each bought 200 December, pit sources said. The nine-day relative strength index for December closed Monday at 32. Chartists view a reading of 30 or less as an indication of an oversold market.

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