CBOT corn slips as planting progress moves quickly
CHICAGO, May 28 (Reuters) - Chicago Board of Trade's most-active July corn futures contract dipped down on Wednesday after a U.S. Department of Agriculture data release showing planting ahead of last week's number as well as the five-year average.
CBOT July corn CN25 settled down 8-1/2 cents on Wednesday at $4.51 per bushel.
The USDA said U.S. farmers had planted 87% of their intended corn acres by Sunday, up from 78% a week earlier and ahead of the five-year average of 85%.
The USDA rated 68% of the U.S. corn crop as good to excellent in its first condition ratings for the 2025 season, well below the average estimate of 73% in a Reuters analyst poll.
Agribusiness consultancy Datagro increased its forecasts for Brazil's 2024/25 corn crop, a statement showed on Monday. Total corn production was estimated to reach 132.7 million tons, 0.7% higher than the previous estimate of 131.7 million tons.
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