Chicago Board of Trade corn futures dropped 4 to 5 cents per bushel near midday on Tuesday on outlooks for a huge hike in US corn acreage this year, traders said.
At 11:48 am CDT (1648 GMT), CBOT corn was down 4 to 5 cents per bushel in the nearby months, with May down 4-3/4 at $4.04-1/2 per bushel. Traders said Rand Financial sold 1,000 May and a lot of the selling was stemming from the screen or e-cbot electronic trading platform.