CBOT corn falls for third straight session on expectations of big US crop

CHICAGO, March 27 (Reuters) - Chicago Board of Trade corn futures turned lower on Thursday, at one point dropping to the lowest prices seen in more than three weeks, on expectations of increased planting by U.S. farmers this year, market analysts said.

• CBOT May corn CK25 settled down 1-1/4 cents at $4.50 a bushel, after earlier touching the lowest price since March 4.

• Some funds liquidated their positions ahead of Monday's U.S. planting and stocks data from the Department of Agriculture.

• Traders also were seeking greater clarity on broad tariffs promised by U.S. President Donald Trump from April 2.

• Analysts polled by Reuters on Tuesday estimated on average that the USDA will show farmers planning to plant 94.361 million acres of corn this year, up from 90.594 million acres in 2024, according to the agency.

• The USDA reported a net 1,039,600 metric tons in U.S. corn sales for the 2024/25 marketing year, on the high end of analyst expectations.

• Grain markets have also been pressured this week by forecast of rain in the United States and Russian wheat belts and an agreement to implement a ceasefire in the Black Sea.