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Corn futures at the Chicago Board of Trade were lower early on Friday amid bearish export news and follow-through technical selling after the steep slide in prices late Thursday, traders said.

Traders and analysts continue to cite the plentiful stocks of feed grains, which have solidly capped occasional fund-related rallies.

Positioning was noted ahead of the long holiday weekend. Markets will close early on Friday at 12:00 pm CST (1800 GMT) and remain closed on Monday. Trading will resume with the overnight electronic session overnight Monday and a full trading schedule is slated for Tuesday.

At 10:25 am CST (1625 GMT), CBOT corn was down 1 to 1-3/4 cents per bushel, with March down 1-3/4 at $2.09-1/4 per bushel. There was nothing in the export sector to give corn futures a lift.

Copyright Reuters, 2005


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