CHICAGO (Dow Jones)--Chicago Board of Trade corn futures are expected to open higher Monday following overnight gains on U.S. corn-belt weather and outside markets, analysts said.

Corn is called 8 cents to 10 cents higher. In overnight trade, December corn was up 9 1/2 cents to $3.71 3/4 per bushel and March corn was up 9 1/2 cents to $3.84.

Weather remains a supportive element, although the cold weather expected over the next several days will not push any areas below freezing that have not been there already, according to DTN Meteorlogix.

The main weather problem in the forecast is rain, analysts said. That will delay harvest and keep the latest-developing corn from maturing, analysts said.

"I think that the downside is limited and that shorts in the market should be very nervous now," Mike Zuzolo, president of Global Commodity Analytics and Consulting, said in a market commentary.

Others think the upside is limited, given the fact that the market has already climbed 46 1/4 cents in the December contract since Sept. 21. Regardless of the weather, the crop will still come in very large, some traders say.

Analysts say a weaker dollar and higher crude oil could give corn and other commodities support in early trading.

The next upside price objective is to push December prices above solid technical resistance at the August high of $3.76 a bushel, the technical analyst said. The next downside price objective for the bears is to push and close prices below solid technical support at last week's low of $3.27 1/2 a bushel.

First resistance for December corn is seen at Friday's high of $3.73 and then at $3.76, the technical analyst said. First support is seen at Friday's low of $3.58 3/4 and then at $3.54.

The managed money category extended its net long position in CBOT corn for the week ended Oct. 6, according to the CFTC's disaggregated commitment of traders report.

The report showed that managed money added 24,771 contracts to their long positions and cut 11,392 contracts from their short positions, leaving them net long 134,434 contracts. Front-month December corn gained 17 1/4 cents during that time period, in a rally traders said was fueled by fund buying.


-By Ian Berry, Dow Jones Newswires; 312-341-5778; ian.berry@dowjones.com