Corn futures at the Chicago Board of Trade were higher Tuesday morning on continued short covering by commodity funds, traders said.
March corn broke through $2.10 resistance, rising to $2.12 per bushel. But the huge US corn stockpile, even though tightly held, capped the rally, with prices near four-year lows.
March was up 1-1/4 cent at $2.10 by 10:52 am CST (1652 GMT). The back months were up 1-1/2 to down 3/4 cent. Calyon was a featured buyer of 1,500 March corn, traders said. CBOT oats were lower, setting back from Monday's higher close. March was down 2 cents at $1.92-1/2 per bushel, with the deferreds 1 to 1-1/2 cent weaker.