CBOT corn ends down on profit-taking, big US planting expectations

CHICAGO, Feb 21 (Reuters) - Chicago Board of Trade corn futures closed down on Friday as profit-taking and expectations for large U.S. plantings yanked the market from an 18-month high, traders said.

• Strong U.S. export demand drove the most-active contract Cv1 to levels not seen since August 2023 before the market turned lower.

• In the week ended February 13, U.S. corn export sales for 2024-25 reached 1.45 million metric tons, according to the U.S. Department of Agriculture. That was toward the high end of analysts' estimates for 900,000 to 1.6 million metric tons.

• Traders expect USDA will issue forecasts for increased U.S. corn plantings at its annual Agricultural Outlook Conference next week because the crop looks more profitable than soybeans for farmers to grow.

• Forecasts for widespread rain in Argentina's farm belt and parts of Brazil next week also weighed on futures, traders said.

• CBOT May corn CK25 ended down 7-3/4 cents at $5.05 per bushel and lost 0.7% this week.