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Corn Falls, USDA Crop Report Limits Losses

Condition of U.S. corn worse-than-expected

U.S. corn futures edged lower as weather forecasts turned favourable, though losses were checked by a widely watched report that showed the condition of U.S. corn crop was worse than anticipated.

Reuters reports soybeans were little changed despite a bullish U.S. Department of Agriculture condition report, while wheat firmed.

The U.S. Department of Agriculture on Monday rated 69% of the country’s corn crop in good-to-excellent condition, down 2 percentage points from a week ago.

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