Markets

CBOT early call-Corn down 3-5 cts on profit-taking

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* Traders said the corn market is expected to be underpinned by more rainfall in the US that is further hampering slow corn plantings that already are well below average.

* USDA late on Monday said 9 percent of the US corn crop had been planted, up from 7 percent a week ago and below the five-year average of 23 percent.

* US corn planting at 9 percent complete, below an average of analysts' expectations for an average 13 percent.

* Heavy rains and storms in the eastern and southern US Midwest over the weekend and early this week will stall early corn seedings and lead to flooding.

* US Gulf FOB export premiums steady to firm late on Monday and Midwest cash basis mostly flat.

Copyright Reuters, 2011