Corn in Slight Rebound after Plunging Yesterday

Corn futures are enjoying a slight rebound today after falling by almost 5 percent in Tuesday trading.

On the Chicago Board of Trade, prices for December delivery rose by 4.75 cents to $4.88 a bushel.

Most industry watchers agree that until a decision one way or the other is made concerning a government bailout, things will remain in flux concerning most commodities. There will be another vote today to attempt to pass a bill.

Yesterday corn futures fell to $4.88 a bushel, the first time it dropped below the $5 mark since January. The almost 5 percent drop was the largest in 12 years.

Corn inventories as of September 1 has risen by 25 percent over a year ago according to the U.S. Department of Agriculture. Corn inventories stand at 1.62 billion bushels.