LONDON: Chicago corn and soybean futures fell on Monday with drier weather expected to allow US farmers to push on with planting, while wheat prices also weakened.
The Chicago Board of Trade most-active corn contract fell 0.7pc to $4.13 a bushel by 1127 GMT, adding to Friday's decline of 1.1pc.
"Grain markets are lower for a second straight session, with prices falling as farmers are expected to get a well-needed window of dry weather this week to complete planting," brokerage Allendale said in a market note.
Dealers were waiting for the release later on Monday of the US weekly crop progress report, with corn planting seen around 80 to 85 percent complete compared with 67 percent a week earlier.
Corn planting is normally finished by this time of year.
"US weather likely allowed more planting over the last week and weather is looking okay this week for further progress in planting," said Ole Houe, director of advisory services at brokerage IKON Commodities.
The CBOT's most active soybean contract fell 0.5 percent to $8.51-3/4 a bushel.
The weekly crop progress report is seen showing US soybean plantings around 55 to 57 percent complete, up from 39 percent last week but well behind last year's 93 percent.
China's soybean imports fell 24pc in May from the same month last year, customs data showed on Monday, as the ongoing Sino-US trade war and deadly African swine fever checked demand.
"Soybean imports were lower as the higher tariffs on US shipments continued to weigh.
And demand is weak due to African swine fever. Shipments from Brazil also dropped a lot," said Xie Huilan, an analyst with Cofeed, an agribusiness research firm.
CBOT's most active wheat contract fell 1.5 percent to $4.97 a bushel while September wheat on Paris-based Euronext was down 0.8 percent at 177.50 euros a tonne.
Dealers said the market had lost some ground after rising during the second half of May and early June with spillover weakness from corn and soybeans adding to downward pressure.
The market continued to keep a close watch on the crop outlook in Russia amid concerns about dry weather.
Dealers noted that a report that Saudi Arabia may allow Russian wheat imports in July was also seen as bearish. Germany is traditionally the main supplier.
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