US corn futures on the Chicago Board of Trade closed lower on Tuesday amid falling crude oil and good crop weather in the US Midwest, traders said. -- CBOT corn closed 1-1/2 to 4-1/2 cents per bushel, with September down 3-1/2 at $5.29-1/2 per bushel. New-crop December was down 4-1/2 at $5.44-1/2 per bushel. -- Volume was strong estimated at 227,669 futures and 74,171 options.
-- Crude oil closed $3 a barrel lower at $103. -- USDA left unchanged its condition ratings for US corn and soy. Traders were expecting a roughly 1 to 2 percentage point decline. -- US corn, soy maturity lagging five-year average-USDa. -- Showers this week to benefit corn and soy crops in the US Midwest and no threat of early freeze seen for at least 10 days.
-- No deliveries on September. -- September contract below all key moving averages with first resistance at 20 day MA of $5.56. Nine-day RSI at 33. -- Oat futures closed 2 cents lower to 3 higher, with September down 2 at $3.27 per bushel. -- Oat volume was light estimated at 626 futures. Traders awaiting Statistics Canada grain stocks report on Wednesday and USDA updated crop forecasts on September 12.
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