CBOT corn futures tick down on favorable planting weather

CHICAGO, May 7 (Reuters) - Chicago Board of Trade corn futures crept lower on Wednesday despite good demand for U.S. corn as favorable planting weather in the U.S. Midwest and the upcoming Brazilian corn harvest pressured prices

• Favorable weather over the next 10 days in the U.S. Midwest is expected to provide seeding opportunities, according to Commodity Weather Group.

• The good weather is expected to allow farmers to seed what is expected to be a large corn crop.

• Though a planned meeting between senior U.S. and Chinese officials boosted hopes for easing tensions earlier in the trading session, some market players soured after U.S.. President Donald Trump said he would not preemptively lower tariffs on China.

• CBOT July corn CN25 closed down 6-1/4 cents to $4.49-1/4 per bushel.