CHICAGO: Chicago Board of Trade corn futures were narrowly higher on Tuesday as investors bought back short positions after the previous session's more than one-week low, traders said.
A slightly slower pace of the US harvest also underpinned prices even as global grain supplies were abundant.
The US Department of Agriculture after the close of trading on Monday said the corn harvest was 61 percent complete, in line with analyst estimates, but below the five-year average of 62 percent and last year's pace of 70 percent.
Most-active CBOT December corn did not surpass Monday's session high or low, and the narrow trading range suggested indecision on price direction. Soybean futures also had an "inside day" while wheat prices fell to a nearly two-week low before reversing higher.
Open interest in CBOT corn futures expanded by 5,053 contracts during Monday's session of sharply lower prices, suggesting investors were making new short or bearish bets, CME Group data showed.
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