Corn futures on the Chicago Board of Trade were lower early on Tuesday on good crop weather in the US Midwest that was likely to add tonnage to this year's corn crop, traders said.
At 11:24 am CDT (1624 GMT), CBOT corn was down 3/4 to 2 cents per bushel, with September down 2 at $2.19. New-crop December was down 2 at $2.35-1/2. Traders said the corn market was under pressure from the latest government forecast for the third largest corn crop in history and also said that the excellent crop weather in August would help the final ear-filling stage of development.
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