Chicago Board of Trade corn futures ended lower on Monday as traders adjusted positions prior to the release of the U.S. Department of Agriculture acreage and stocks report a day later.
CBOT's July corn contract (CN26) ended the day down 10-3/4 cents at $4.02 a bushel, having hit a contract low at $3.98-1/2 a bushel.
Traders were adjusting positions ahead of the USDA acreage and stocks reports on June 30.
USDA is expected to report June 1 corn stocks were up 16.5% from a year earlier and that farmers planted about 95 million acres of corn this spring, a Reuters poll of analysts showed.
A hot spell in the U.S. Midwest was expected to peak by midweek, according to Commodity Weather Group, with showers and lower temperatures around the corner limiting crop stress.
The USDA is likely to leave its U.S. corn crop condition ratings unchanged from last week in a weekly report, with 68% of corn expected in good-to-excellent condition, a Reuters poll of 11 analysts showed on Monday.