Corn futures at the Chicago Board of Trade were mixed early on Wednesday with the market recovering from a slide on the open amid weather jitters, traders said. An upturn in crude oil markets helped keep the corn market from falling, they said.
At 10:05 am CDT (1505 GMT), CBOT corn was up 2 to down 1 cent per bushel, with July up 1-3/4 at $3.95-1/4 per bushel. New-crop December was down 3/4 at $4.04-3/4. Traders said corn futures remained volatile amid mixed signals from weather forecasts for the US Midwest crop region.
There are some outlooks for crop-friendly rains by the weekend through early next week in the Midwest but traders were sceptical that enough rain would fall in the dry eastern US Corn Belt. Oat futures were unchanged to 1-1/2 cents per bushel lower, with July down 1 at $2.90-1/2 per bushel.