CBOT corn eases ahead of monthly USDA data; good US harvest weather
CHICAGO, Sept 9 (Reuters) - Chicago Board of Trade corn futures drifted lower on Tuesday as the U.S. harvest was underway and as traders squared positions ahead of a monthly U.S. Department of Agriculture supply and demand report due at the end of the week.
The USDA is expected to trim its U.S. corn yield forecast in its monthly report on Friday, although the agency is still likely to forecast a record-large harvest.
U.S. corn crop conditions declined for a second straight week, according to a weekly USDA report on Monday. Still, the share of the U.S. crop rated good to excellent was at its highest for this time of year since 2018.
The U.S. corn harvest was 4% harvested as of Sunday, the USDA said. Harvesting is expected to accelerate this week amid forecasts for mostly clear weather around the U.S. Midwest.
CBOT December corn futures CZ25 settled 2 cents lower at $4.19-3/4 per bushel.
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