March 23 (Reuters) - Chicago Board of Trade corn futures ended lower on Monday as they came under pressure from crude oil prices, though losses were limited by bullish fundamentals, including strong export demand and high ethanol margins.
U.S. President Donald Trump's announcement of a delay to possible strikes against Iranian power plants roiled financial and commodity markets.
Lower crude oil prices provided continuous pressure on corn futures. Corn is often used as a feedstock for biodiesel.
Planting of the second corn crop in Brazil's center-south reached 97% of the expected area, compared with 100% a year earlier, consultancy AgRural said on Monday.
Forward export prices for Ukraine's 2026 corn harvest are being quoted at around $210 per metric ton CPT Black Sea ports, compared with the current price of $212 to $215 CPT, Ukrainian brokerage company Spike Brokers said over the weekend.
Traders are also grappling with how rising fuel and fertilizer prices may influence U.S. farmers' allocation of acres for corn and soybeans this spring.
CBOT March corn CH26 settled 6 cents lower to $4.59-1/2 per bushel.