CBOT corn weakens with wheat futures, traders eye US plantings
RefinitivLess than 1 min read
Chicago Board of Trade corn futures fell on Monday amid spillover pressure from contract lows in the neighboring wheat market, traders said.
CBOT corn came under additional pressure from U.S. planting progress, analysts said.
U.S. farmers were estimated to have planted 25% of the nation's corn crop as of Sunday, a Reuters survey showed ahead of the release of the U.S. Department of Agriculture's weekly crop progress report at 3 p.m. CDT (2000) GMT). A week ago, 12% of the crop had been planted.
Traders said hopes were fading for quick progress in negotiations to cool the U.S.-China trade war.
CBOT July corn (CN25) ended down 2-1/4 cents at $4.83-1/4 per bushel.
