CBOT corn falls on post-rally profit taking

Jan 30 (Reuters) - Chicago Board of Trade corn futures edged down on Thursday as traders booked profits following a recent rally and ahead of the weekend, when U.S. President Donald Trump said he plans to impose tariffs on imports from Canada and Mexico, traders said.

• CBOT March corn CH25 settled down 6-3/4 cents $4.90-1/4 a bushel.

• In the previous session, corn futures touched a 15-month high as hot, dry weather plagued Argentina's corn belt.

• Disappointing rainfall in Argentina and a dry outlook for the following weeks are likely to continue supporting corn and soy futures.

• Showers over Brazil have slowed the soybean harvest and delayed planting for the country's crucial safrinha corn crop.

• Traders are waiting to see if Trump will follow through on threats to impose tariffs against Mexico and Canada, which would likely spark retaliation from two of the largest U.S. crop importers.

• Uncertainty over whether tariffs will be implemented has encouraged some traders to book profits and exit the market, traders said.

• The USDA reported weekly 2024-25 export sales of U.S. corn at 1.4 million metric tons, within analysts' expectations for 850,000-1.8 million metric tons.