Hot Forecasts Fuel Crop Concerns

Chicago corn futures prices turned lower on Monday, retreating from early strength, on expectations for improved U.S. crop condition ratings, analysts said.

According toReuters, traders had viewed warmer weather last week as beneficial in helping fields dry out and boost plant development. But forecasts showing heat building further in the next two weeks, with limited rainfall, were causing concern that late-planted corn and soybeans may be stressed.