Corn futures were 4 to 5 cents lower on the session. The CmdtyView national average Cash Corn price was down 4 3/4 cents at $4.10 1/2. Crude oil was down $2.03 on the day after late reports that the US and Iran were reviewing a Pakistan proposed 2-week ceasefire ahead of Tuesday nights deadline. Corn longs were likely taking some risk off the table heading into the evening.
Ahead of the Thursday WASDE update, analysts surveyed by Bloomberg are looking for a slight increase (3mbu) from March to 2.13 bbu for the US carryout projection.
