US MIDDAY: corn rises

22 Dec, 2009

March corn was up 6 cents at $4.03-3/4 a bushel. Bullish moves in option market support gains in futures. Market technically strong after breaking through 20-, 50- and 200-day moving averages. China's Finance Ministry confirms fuel ethanol tax cut. US cash corn basis weak in far western US Midwest early Monday, steady elsewhere; farmer sales slow.

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