Corn futures on the Chicago Board of Trade were weaker by Tuesday's midsession on technical sales by commodity funds, traders said. "I think the fact it couldn't find a bid with the outside markets ... we're starting to see some pressure," said one cash-connected CBOT trader.
The weakness in wheat after an early rally added to the bearish tone in corn, traders said.
July corn was down 3 cents at $2.51-1/2 per bushel by 11:08 am CDT (1608 GMT). The back months through July 2007 were down 2-1/2 to 3-1/4 cents.