Chicago corn futures rise as wheat rally fuels market

CHICAGO, May 20 (Reuters) - Chicago Board of Trade corn futures hit a one-week high on Tuesday, following a rally in the wheat market, as traders watched for news about U.S. trade talks, market analysts said.

• CBOT July corn CN25 settled up 7 cents at $4.54-1/2 a bushel. December corn CZ25, which represents the crop that farmers are planting this spring and will harvest this autumn, closed up 6-3/4 cents to end at $4.48-1/2 a bushel.

• U.S. farmers had planted 78% of the nation's corn crop by Sunday, below an average of analysts' expectations but ahead of the five-year average for this time of year of 73%, the U.S. Department of Agriculture said in a weekly crop report that was released after the market closed on Monday.

• Heavy rains this week are expected to sideline planters for several days, but the rains are recharging soil moisture reserves in dry areas of the Midwest, analysts said.

• In the eastern corn belt of the U.S., consistent rainfall has made it difficult for some farmers to get out to plant their fields, market analysts said. Some traders now are questioning whether there may ultimately be fewer corn acres planted in that part of the U.S., if these farmers are unable to get their insured corn crop seeded by the insurance deadline, and instead take an indemnity payment - a practice known as "prevent plant".