CBOT corn ends mixed; July dips while back months climb

CHICAGO, June 17 (Reuters) - Chicago Board of Trade corn futures ended mostly higher following advances in wheat Wv1 and crude CLc1 oil but the benchmark front July corn contract CN25 ended lower, losing ground to back months on spreads.

• CBOT July corn CN25 settled down 3-1/4 cents at $4.31-1/2 per bushel.

• CBOT new-crop December corn CZ25 ended up 3-3/4 cents at $4.38-3/4 a bushel.

• Strength in energy markets supported deferred corn futures, given the crop's role in the production of ethanol fuel. U.S. crude oil CLc1 prices climbed 3.5% as the Iran-Israel conflict raged with no end in sight. O/R

• The U.S. Department of Agriculture on Monday rated 72% of the U.S. corn crop as good to excellent, up 1 percentage point from a week ago and matching the year-ago rating as the best for the 24th week of the calendar year since 2018.

• Still, some analysts said uncertainty about crop prospects was supportive to new-crop corn futures until market players can get a better idea of U.S. weather outlooks for July, when much of the U.S. corn crop begins pollination, the key phase for determining yields.