DJ CBOT Corn Review: Climbs Slightly On Short Covering (ENG)

By Ryan Davis Of DOW JONES NEWSWIRES CHICAGO (Dow Jones)--Chicago Board of Trade corn futures rebounded slightly Thursday as an oversold market prompted short covering, traders said. September corn closed up 1 1/2 cents at $5.73 per bushel, December corn closed up 1 1/2 cents at $5.92, and March closed up 1 1/2 cents to $6.11 1/4. The market settled higher for the first time in six trading days. Analysts said that after breaking more than $2, the market was due to bounce. But they added that there seemed to be little support for a strong, sustained rally. Prices have fallen this week amid widespread commodity liquidation. But Thursday's slight jump in crude oil prices along with a mixed dollar provided some stability for corn, traders said. "The market is oversold and you see some short covering," a trader said. The market... [read full story]