
CHICAGO, Sept 30 (Reuters) - Chicago Board of Trade corn futures ended lower on Tuesday after a bearish U.S. Department of Agriculture quarterly stocks report.
Most-active CBOT December corn CZ25 settled 6 cents lower to $4.15-1/2 per bushel.
Warm and dry weather over the U.S. Corn Belt promoted harvest progress over the weekend, and forecasts called for more of the same this week.
The corn harvest was 18% complete by Sunday, according to USDA.
Export demand has been strong.
Traders braced for a fast-approaching U.S. government shutdown. Previous shutdowns have disrupted the release of USDA reports.
The USDA said in a quarterly report that there were 1.532 billion bushels of corn in storage as of September 1, down from 1.763 billion bushels a year earlier. Analysts on average expected 1.337 billion bushels.
Low prices boosted exports in the world's top corn supplier this year, reducing supplies in storage, but also making it difficult for farmers to turn a profit at a time when costs have increased for fertilizer, seed and other goods.
Despite low prices, U.S. livestock producers likely used less corn for feed than previously expected because Washington blocked imports of Mexican cattle in a bid to keep out the damaging parasite New World screwworm, which has spread in Mexico, analysts said.