Corn futures fall in Chicago as traders await US planting report
CHICAGO, March 30 (Reuters) - Chicago Board of Trade corn futures ended lower on position adjustments ahead of Tuesday's government planting intentions report, even as the pace of export demand was brisk, market analysts said.
CBOT March corn CH26 settled 6-1/4 cents lower to $4.55-3/4 per bushel.
Grain and oilseed traders are awaiting the release of the U.S. Department of Agriculture's prospective U.S. plantings report on Tuesday.
Traders believe the Iran war has changed the planting intentions of U.S. farmers, and will result in fewer acres of corn planted as rising fertilizer and fuel costs dim the profit outlook. Corn requires a substantial amount of nitrogen from fertilizer.
USDA on Monday separately announced exporters sold 145,000 metric tons of U.S. corn to unknown destinations for the 2025/26 marketing year.
The agency also reported that U.S. corn export inspections for the week ended March 26 were at 1,789,524 bushels, above the range of trader expectations.
