MUMBAI (Commodity Online): Corn ended higher on higher Crude Oil Tuesday, a weaker dollar and concerns about spring planting. The outside macro markets set the tone, analysts said.

Prices were also supported by wet conditions in the Midwest, which could delay planting, although some traders note it is still early to be rallying the market too high on planting concerns.

The market continues to trade a tight range, with strong technical support underneath the market. Prices could move sharply once they break out of the range, analysts say. Traders said the leader on the grains floor so far this week has been soybeans, which climbed more than a dime Tuesday.

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Funds bought an estimated 5,000 contracts on the day. May Corn ended up 3 1/2 cents to $3.66 3/4 per bushel, and July corn closed up 3 ½ cents to $3.77 3/4.

Courtesy: CBE Group

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