CBOT corn ends higher on Black Sea worries, US weather

CHICAGO, Dec 2 (Reuters) - Chicago Board of Trade corn futures closed higher on Tuesday, supported by tensions in the Black Sea grain export region as well as cold weather slowing grain movement in the U.S. Midwest, brokers said.

• CBOT March corn CH26 settled up 5 cents at $4.50 per bushel.

• The CBOT March contract pushed above technical resistance at its 200-day moving average near $4.48 a bushel, attracting chart-based buying.

• Traders were monitoring war-related risks to Black Sea shipping. Ukrainian drone strikes last week against two oil tankers bound for a Russian port were followed by a drone attack on Tuesday against a Russian-flagged vessel carrying sunflower oil.

• A Ukrainian official said Ukraine was not involved in Tuesday's attack, but Russian President Vladimir Putin threatened to sever Ukraine's access to the sea.

• Firm domestic cash markets lifted nearby CBOT corn futures more than back months. The corn basis at Decatur, Illinois, a closely watched grain processing hub, improved by 5 cents a bushel this week.

• The U.S. corn harvest is complete and wintry weather has slowed grain movement in parts of the Corn Belt, one broker said, with frigid temperatures following heavy weekend snowfall in northern areas.

• Some analysts believe that commodity funds hold a net short position in CBOT corn futures, leaving the market vulnerable to bouts of short-covering.

• Following data delays due to the U.S. government shutdown, the latest data from the U.S. Commodity Futures Trading Commission showed funds held a sizable net short position in CBOT corn as of mid-October.