CBOT corn futures hit 5-month low on technical selling
CHICAGO, May 13 (Reuters) - Chicago Board of Trade corn futures fell to a five-month low on Tuesday as technical selling and ideal planting weather in the U.S. Corn Belt pressured prices.
U.S. farmers had planted 62% of the nation's corn crop by Sunday, higher than the average of analyst expectations and ahead of the five-year average for this time of year of 56%, the U.S. Department of Agriculture said in a weekly crop report on Monday.
The USDA projects U.S. corn ending stocks at 1.415 billion bushels for September 1, 2025, down from 1.465 billion bushels in April, and below analysts' 1.443 billion bushels estimate.
The USDA's supply and demand report estimated 2025-26 U.S. soybean ending stocks at 295 million bushels, lower than analysts' 362 million bushels estimate.
France's farm ministry on Tuesday lowered its estimate of the area sown with soft wheat for the 2025 harvest, but it still expects a sharp rebound from rain-hit planting a year earlier.
CBOT July corn CN25 closed 5-1/2 cents lower to $4.42-1/2 per bushel.
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