CBOT corn closes weaker on favorable US crop weather
CHICAGO, July 7 (Reuters) - Chicago Board of Trade corn futures fell on Monday on expectations for favorable U.S. crop weather, traders said.
Weather conditions look non-threatening as crops are entering the critical pollination period of development, traders said.
Rain benefited the U.S. Plains and western Midwest over the weekend, and boosted soil moisture in Iowa, according to weather firm Vaisala.
Temperatures will be near normal in most areas this week and rain may ease dryness next week, the firm said.
The U.S. Department of Agriculture is expected to rate 73% of the nation's corn crop in good to excellent condition in a weekly report due at 3 p.m. CDT (2000 GMT), analysts said in a Reuters poll. That would be the highest for this time of year since 2018.
CBOT December corn CZ25 finished down 16-1/4 cents at $4.20-3/4 a bushel.
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