Chicago Board of Trade corn futures were firm early Friday on a technical bounce, supported by the rally in the wheat market and the strength in gold, traders said.
Commodities tend to move together amid the increased activity of commodity index funds that include an assortment of commodities in their indexes. But corn prices kept within recent ranges as funds are heavily weighted to the long side in CBOT corn futures.
May corn was up 1-1/2 cent per bushel at $2.31-1/4 per bushel and July was 1-3/4 cent higher at $2.41 by 11 am CDT (1600 GMT).