Corn futures at the Chicago Board of Trade turned firm early on Tuesday on a technical bounce from Monday's slide to two-month lows, and gains in wheat also gave the market some buoyancy, traders said.
At 10:08 am CST (1608 GMT), CBOT corn was unchanged to 2 cents per bushel higher, with May up 1-3/4 at $2.20 per bushel. Chart-based traders were eyeing the nine-day relative strength index for May which closed Monday at 29, below the benchmark 30 level that technical traders view as an oversold area. Technical support in the May on Tuesday was at $2.15 per bushel and resistance was at $2.20.