CBOT corn futures slide

Chicago Board of Trade corn futures fell on Tuesday for a third straight session on strong planting progress across the US Midwest and continued demand destruction in the ethanol sector as coronavirus lockdowns have slashed global fuel consumption.

CBOT most-active July corn settled down 1-1/4 cents at $3.12 per bushel.

Argentine farmers have suspended soy and corn harvesting in the country's central grains belt due to heavy rains, while the extra moisture was expected to help wheat planting scheduled to start in May, growers and analysts said.

US farmers planted 27% of intended corn acres as of Sunday, the US Department of Agriculture said late on Monday, topping most analysts' expectations and the five-year average of 20%.