CBOT corn down as US weather and acreage numbers weigh
CHICAGO, July 1 (Reuters) -Chicago Board of Trade corn futures Cv1 edged down on Monday on beneficial weather forecasted for the U.S. Midwest and prolonged fallout from the U.S. Department of Agriculture's Friday acreage report that showed farmers had planted more corn than expected.
CBOT September corn CU24 settled down 1/2 cent at $4.07 per bushel, after falling below $4.00 a bushel on Friday.
CBOT new crop December corn CZ24 ended down 1/4 cent at $4.20-1/2 a bushel.
The USDA on Friday estimated corn plantings at 91.5 million acres, above analysts' expectations for 90.4 million. In March, the USDA projected farmers would plant 90 million acres.
Scattered rain missed some corn-growing areas in the central U.S. over the weekend, according to an analyst note, but the area can expect more moderate to heavy rainfall this week.
Dry weather means Brazilian farmers' second corn crop is expected to be 571,000 metric tons less than previously forecast, an updated StoneX forecast released on Monday showed.
Reporting by Heather Schlitz; Editing by Mohammed Safi Shamsi
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