Chicago Board of Trade corn futures fell for a second straight session on Monday on weak export demand and spillover pressure from lower wheat, traders said. CBOT December corn ended down 3-3/4 cents at $3.87-1/4 per bushel, a 1-1/2 week low.
The US Department of Agriculture (USDA) said that 531,744 tonnes of corn were inspected for export last week, within the range of trade estimates. But season-to-date inspections are down 62% from the same time a year ago. Forecasts for drier weather around the US Midwest over the next two weeks weighed on corn prices.