CBOT corn ends weaker as US crop rating improves
Chicago Board of Trade corn futures finished lower for a second consecutive session on Tuesday as U.S. crop ratings improved and weather conditions looked favorable, traders said.
The U.S. Department of Agriculture said after Monday's market close that 74% of the nation's corn crop was in good or excellent condition, up 1 percentage point from a week earlier and the highest for this time of year since 2018.
A lack of extreme heat is expected to limit major stress on crops in the coming weeks, Commodity Weather Group said in a forecast.
Many farmers are pleased with the near-term weather outlook, given moderate to warm temperatures and scattered rain chances.
In Argentina, one of the world's top grains suppliers, farmers are set to favor corn over soy in the upcoming 2025/26 season, the head of the major SRA agricultural association said.
CBOT December corn (CZ25) finished down 6-1/2 cents at $4.14-1/4 a bushel.
