CBOT corn ends lower as beneficial weather is expected
CHICAGO, June 23 (Reuters) - Chicago Board of Trade corn futures dipped down as weather in the U.S. Midwest was favorable for the development of the crop.
CBOT September corn CU25 settled down 8 cents at $4.17-1/2 a bushel.
Rains across the Midwest boosted soil moisture the week before above-normal temperatures hit the U.S. Midwest last weekend.
Warm, wet weather is expected in the coming weeks, providing greenhouse-like conditions in the U.S. corn belt, according to analysts.
The U.S. Department of Agriculture is expected to rate 72% of the U.S. corn crop in good-to-excellent shape as of June 22 in its weekly crop progress report, unchanged from a week ago, according to a poll of Reuters analysts.
If those expectations are realized, the corn crop's condition would be the best for this point of the growing season since 2020, according to USDA data.
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