CHICAGO: Chicago Board of Trade (CBOT) corn futures fell on Monday to a one-week low, pressured by forecasts for improved weather for planting in the US Midwest this week, traders said.
CBOT July corn settled down 4-3/4 cents at $3.66 per bushel after dipping to $3.65, its lowest since April 28.
Bearish export data lent pressure. The US Department of Agriculture reported export inspections of US corn in the latest week at 720,586 tonnes, below a range of trade expectations for 900,000 to 1.2 million tonnes.
Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters expect the government to report the US corn crop as 44 percent planted, up from 34 percent a week ago but behind the five-year average near 52 percent.
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