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CBOT corn up on technical bounce

CHICAGO : Corn futures on the Chicago Board of Trade were higher on Monday on a technical bounce from oversold condition
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By Muhammad Iqbal
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ertyuoqCHICAGO: Corn futures on the Chicago Board of Trade were higher on Monday on a technical bounce from oversold conditions after the market fell 7.7 percent last week, and on a setback in the dollar, traders said.

Ahead of the open, the nine-day relative strength index for the benchmark December corn contract stood at 16, within the technically oversold range of 0 to 30.

As of 10:03 a.m. CDT (1503 GMT), December corn was up 9-1/2 cents at $6.48 per bushel.

Copyright Reuters, 2011

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