Chicago Board of Trade corn futures were lower at midday Tuesday, pressured by nearly ideal US crop-growing weather, traders said.
CBOT corn futures were last down 1/4 cent to 4-3/4 cents per bushel, with July down 3-1/4 cents at $2.92 and December down 4-3/4 cents at $2.83-1/4.
Technical resistance in the CBOT December corn contract held at Monday's high of $2.88-1/2 per bushel, and support held at Monday's low of $2.80-1/4, traders said.
Caylon Financial sold a net 300 December, ABN Amro and Cargill Investor Services each sold 300 December, Refco Inc sold a net 800 December, brokers said.
Recent rains across key parts of the US Corn Belt and forecasts for more rain this week again weighed on CBOT corn futures, brokers said.
The moisture should help early development of the 2004 US corn crop which has been planted in record pace.