CBOT corn futures lower

Chicago Board of Trade corn futures closed lower on Tuesday on profit-taking a day after the spot May contract touched a three-week high, traders said. CBOT May corn settled down 4-3/4 cents at $3.63 per bushel, falling below chart support at its 100- and 200-daily moving averages. Worries eased about planting delays in the southern Midwest following rains in recent days. The US Department of Agriculture said it expects to release an estimate of US planting progress next week. Market underpinned by the USDA's lower-than-expected corn plantings forecast, which was released on Friday.