CHICAGO: Chicago corn futures rose for most of the trading day on Tuesday, after a crop progress report from the US Department of Agriculture (USDA) said the condition of US corn had deteriorated somewhat amid recent hot weather, traders said.
But technical selling ultimately had corn futures ending the day slightly down, traders said.
Corn rose to one-week high overnight after USDA report showed crop condition unexpectedly declined in the latest week.
CBOT July corn settled down 1/4 cent at $3.29 a bushel at the close of trading.
The USDA rated 71% of the US corn crop in good-to-excellent condition in its weekly harvest report against 75% last week. Analysts surveyed by Reuters on average expected 75%.-Reuters
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