CBOT corn futures fall as weather fears recede
CHICAGO, July 21 (Reuters) - Chicago Board of Trade corn futures finished lower on Monday as worries about excessive heat in the U.S. corn belt faded, with forecasts for showers emerging.
The U.S. Midwest will see a brief burst of heat midweek, but showers are expected to limit stress to the corn crop, Commodity Weather Group said.
The U.S. Department of Agriculture is expected to rate 74% of the U.S. corn crop in good-excellent condition, according to a Reuters poll of 10 analysts. If realized, this would be the highest rating for this time of year since 2016.
Most of the U.S. corn crop will be pollinating in July, a key reproductive phase that is crucial for determining yield.
Brazil's total corn production is expected to hit 136.3 million metric tons in 2024/25, agribusiness consultancy AgRural said on Monday, raising its forecast from the 130.6 million tons projected in June.
New-crop CBOT December corn CZ25 ended down 5-1/2 cents at $4.22-1/4 a bushel.
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