Chicago Board of Trade corn futures edged higher on Tuesday on short-covering following recent contract lows, although gains were capped by abundant grain supplies. Trading was rangebound, with investors squaring positions ahead of the long Christmas holiday weekend. Markets close early on Friday and will remain closed on Monday for the holiday.
Benchmark March futures traded on both sides of previous prices but ended 1/2 cent higher at $3.47-1/2 a bushel. The benchmark contract fell to a contract low of $3.46-1/2 on Friday and matched that low again on Monday and Tuesday.