CBOT corn sinks to further lows on ideal weather
CHICAGO, June 26 (Reuters) - Chicago Board of Trade front and back-month corn futures sank to lifetime lows for the second session in a row on Thursday as favorable U.S. weather and expectations of record Brazilian crops maintained supply pressure.
CBOT September corn CU25 settled 1 cent lower to $4.04 per bushel.
Brazilian farmers will produce a record 123.3 million metric tons in the second corn crop, agribusiness consultancy Agroconsult forecast on Tuesday after surveying fields in key producing regions nationwide.
Grain markets are also turning their attention toward the U.S. Department of Agriculture's crop progress and quarterly stocks reports due Monday.
The International Grains Council (IGC) has trimmed its forecast for 2025/26 global corn production by 1 million metric tons to 1.276 billion tons, it said on Thursday.
Widespread rain is expected to lead to further improvements in soil moisture for corn in the Midwest this week, according to forecaster Vaisala.
The warm, rainy weather is creating a greenhouse-like effect for the nascent corn crop, forecasters said.
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