CBOT corn futures fall after USDA projects supply above expectations

Feb 11 (Reuters) - Chicago Board of Trade corn futures drifted down on Tuesday following a U.S. Department of Agriculture report that showed no decrease in U.S. ending stocks for corn, disappointing market players who had expected the agency to slash ending stock estimates.

• CBOT March corn CH25 settled down 7-1/2 cents to $4.84 a bushel.

• Estimates for U.S. corn stocks were left unchanged from January, at 1.54 billion bushels.

• The USDA pegged Argentina's corn crop at 50 million metric tons in a monthly report, down from 51 million in January.

• Grain traders have been closely monitoring dryness in Argentina, the world's top exporter of soyoil and meal and No. 3 corn exporter, as it competes with the U.S. for global sales.

• Corn production is particularly important because global inventories for 2024-25 are projected to drop to their lowest level in a decade due to robust demand and a smaller-than-anticipated U.S. harvest last year.

• Traders are continuing to wait to see if the latest U.S. tariff measure will bring fallout for agricultural trade.

• U.S. President Donald Trump's announcement on Monday of increased tariffs of 25% on steel and aluminum imports rekindled concern about retaliatory actions against U.S. exports, including crops.