CBOT corn falls on weaker crude oil, strong dollar

CHICAGO, June 22 (Reuters) - Chicago Board of Trade corn futures ticked down on Monday as sinking crude oil prices and a stronger dollar added pressure.

  • Abundant rainfall and moderate temperatures in the U.S. Midwest have curbed corn prices this month, though traders say wet conditions and excess rainfall may start to impede growth.

  • Market players are awaiting the U.S. Department of Agriculture's weekly crop progress report on Monday afternoon, which will include condition ratings for the nascent corn crop.

  • The U.S. Department of Agriculture is expected to leave its ratings of U.S. corn unchanged from last week, with analysts estimating corn will be rated at 68% good to excellent condition.

  • Oil prices fell nearly 4% on Monday, as supply concerns eased after U.S. Vice President JD Vance said progress has been made in talks with Iran and the Strait of Hormuz was open. O/R

  • Corn futures often follow crude oil, as it is commonly used as feedstock for biofuel.

  • CBOT July corn CN26 settled 6 cents lower to $4.11-1/2 per bushel.


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