CHICAGO, June 11 (Reuters) - Chicago Board of Trade corn futures fell to contract lows on Thursday after a monthly U.S. government crop report underscored ample domestic and global grain supplies while generally favorable Midwest weather forecasts bolstered production prospects, traders said.

• CBOT July corn CN26 settled down 7-1/4 cents at $4.11-3/4 per bushel after hitting a life-of-contract low at $4.10-1/2.

• CBOT new-crop December corn CZ26 ended down 7-1/4 cents at $4.39-1/2 a bushel after setting a contract low at $4.37-1/2.

• Storms continued to cross the Midwest crop belt, bringing localized wind and hail damage along with broadly beneficial rain that was expected to promote crop growth.

• The U.S. Department of Agriculture's monthly supply/demand report offered few major surprises.

• The agency raised its forecast of U.S. 2025/26 corn ending stocks to 2.145 billion bushels, from 2.142 billion in May, and pegged 2026/27 ending stocks at 1.960 billion bushes, up from 1.957 billion last month. Both figures were slightly above average estimates from analysts surveyed by Reuters.

• The USDA raised its forecast of global corn inventories at the end of the 2026/27 marketing year to 281.22 million metric tons, up from 277.54 million in May and above a range of trade expectations.

• The USDA also raised its estimates of 2025/26 corn production in Argentina and Brazil.

• In its weekly export sales report, the USDA showed net sales of old-crop corn in the week to June 4 at 1,000,400 metric tons, in line with trade expectations for 700,000 to 1,600,000 tons, and new-crop sales of 926,900 tons, above expectations for 200,000 to 500,000 tons.