Corn Futures Fall Ahead of USDA Supply Report

Corn futures on the Chicago Board of Trade fell by 3 to 4 cents per bushel on Wednesday, ahead of the U.S. Department of Agriculture's supply and demand forecasts scheduled for Friday.

The USDA will provide information about the impact of hot, dry weather on Midwest crops during the summer months, which has affected the crop conditions.

According to Tuesday's report from the USDA, 56% of the corn crop was in good-to-excellent condition, a decrease of 1 percentage point from the prior week and matching average analyst expectations.

The CBOT December corn traded down 2-3/4 cents to $5.29-3/4 per bushel on Wednesday.