Corn futures at the Chicago Board of Trade slipped early on Thursday as the weather remains conducive to the US corn crop as it approaches pollination in a few weeks, traders said.
Large speculators also hold a huge net long position in CBOT corn futures, making them vulnerable to long liquidation or a hesitancy to buy more corn. July corn was down 1-3/4 cents at $2.31 per bushel by 10:55 am CDT (1555 GMT). The deferred months were 1/4 cent to 2 cents lower.
Funds sold 2,500 lots by the midsession.