CHICAGO: Chicago Board of Trade corn futures gained on Monday as weather forecasts offered rain across the US Midwest, but little relief for drought-stricken parts of the Western corn belt.
The most active corn futures contract added 2-1/4 cents to $3.23 per bushel.
The USDA is expected to rate 72% of the country's soybean crop in good-to-excellent condition in its weekly crop progress report, according to analysts surveyed by Reuters.
Analysts expect the USDA's World Agriculture Supply and Demand Report on Wednesday to show a record large US corn crop will be harvested in the fall.
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