CBOT corn futures lower

Chicago Board of Trade corn futures closed lower on Thursday on a drop in wheat prices. Forecasts called for improved planting conditions in the northern half of the Midwest this week. The USDA reported export sales of US corn in the latest week at 848,200 tonnes (old and new crop years combined), at the low end of trade estimates for 800,000 to 1.3 million tonnes. The Brazilian government will offer up to 500 million reais ($159 million) in subsidies to help corn producers sell their large crop in the 2016/17 cycle.