Corn was up 1-1/2 to 5 cents per bushel, with July up 2-1/2 at $6.49-1/4 per bushel early on Tuesday. Support from USDA's June supply/demand report that showed a cut in US corn production for this year and a decline in corn ending stocks. Wet US weather hampers corn crop development.
USDA said 2008 US corn production 11.735 billion bushels, down 3 percent from May forecast. Corn ending stocks for 2008/09 cut to 673 million, the lowest in 13 years and equal to a three-week supply at the end of next summer.
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