Corn traders said players were hesitant to hold large short positions in corn amid persistent talk that index funds soon may start making large purchases of corn futures.
CBOT corn futures closed 1-3/4 cents per bushel higher to 1/4 cent lower, with March up 1-1/2 at $2.15-1/2 per bushel.
The market sagged earlier in the day and traders said corn futures had moved up into overbought technical areas after recent fund-related gains, leaving open the potential for a technical setback.
The nine-day relative strength index for March stood at 72. Technical traders view an RSI of 70 or more as an overbought market. Technical support in the March contract was at $2.10-1/4 per bushel and resistance was at $2.14-1/4.
Routine export sales of US corn also were weighing on prices, they said.