CBOT corn slips on benign US crop weather; USDA monthly data awaited

CHICAGO, June 11 (Reuters) - Chicago Board of Trade corn futures ended lower on Wednesday as benign U.S. weather outlooks and strong production prospects overshadowed early support from the United States and China agreeing on the framework of a trade truce, traders said.

• CBOT July corn CN25 settled down 1-3/4 cents at $4.37 per bushel and new-crop December corn CZ25 fell 1/4 cent to finish at $4.39-3/4.

• Midwest weather outlooks showed no signs of damaging heat and only "patchy dryness" in 15% to 20% of the crop belt, the Commodity Weather Group said in a daily note.

• President Donald Trump said a U.S. deal with China is "done," with Beijing to supply magnets and rare earth minerals while Washington will allow Chinese students in U.S. colleges and universities. However, there were few mentions of agriculture, brokers said.

• The U.S. Energy Information Administration said weekly production of corn-based ethanol rose in the latest week to a record-high 1.120 million barrels per day while stockpiles fell to 23.734 million barrels, the lowest of the calendar year. EIA/S

• Ahead of the U.S. Department of Agriculture's weekly export sales report on Thursday, analysts expected the government to report sales of U.S. old-crop corn in the week ended June 5 at 700,000 to 1,200,000 metric tons.

• Ahead of the USDA's monthly supply/demand reports, also due on Thursday, analysts surveyed by Reuters on average expected the USDA to trim its forecasts of domestic old- and new-crop corn stockpiles, given a brisk pace of export sales.