CBOT corn dips as US planting accelerates

CHICAGO, April 29 (Reuters) - Chicago Board of Trade corn futures ended lower on Tuesday, pressured by the fast pace of U.S. planting and favorable crop weather in South America, market analysts said.

• CBOT July corn CN25 ended down 13 cents at $4.70-1/4 per bushel.

• The most-active contract on a continuous basis Cv1 dipped to a low mid-session $4.69-3/4 a bushel, the lowest price since April 9.

• U.S. farmers had planted 24% of the corn crop as of Sunday, the Department of Agriculture said late Monday, 1 percentage point behind analysts' average estimate but ahead of the five-year average of 22%. A week ago, 12% of the crop had been planted.

• The USDA confirmed private sales of 120,000 metric tons of U.S. corn to Spain for delivery in the 2024/25 marketing year.

• Corn futures saw some support from the Trump administration issuing an emergency waiver to allow the sale of a higher-ethanol gasoline blend to be sold this summer nationwide, saying it will add to fuel supply during the peak U.S. driving season and bring down costs.