**Corn Futures Decline Amid Oil Price Pressures**
On Wednesday, corn futures saw losses ranging from 3 to 5 cents across various contracts, continuing a downward trend as crude oil prices fell by $4.48. The CmdtyView national average cash corn price dropped by 4.75 cents to $4.13.
As of Sunday, the USDA’s NASS Crop Progress report indicates that 86% of the U.S. corn crop has been planted, surpassing the 5-year average of 83%. Additionally, 60% of the crop has emerged, which is 2 percentage points ahead of the normal pace. However, Kansas, Missouri, North Carolina, Ohio, and Pennsylvania are lagging in planting. Meanwhile, South Korean importers purchased 130,000 metric tons of corn overnight.
For futures, July 26 corn closed at $4.52. Nearby cash was at $4.13, September 26 corn at $4.59, and December 26 corn at $4.77. New crop cash stood at $4.30.
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