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SINGAPORE - Chicago corn futures slid for a second straight session on Monday, with prices falling nearly 1% as U.S. farmers are expected to get a window of dry weather this week to push on with planting.
The Chicago Board of Trade most-active corn contract fell 0.8% to $4.12-1/4 a bushel by 0203 GMT, adding to Friday's decline of 1.1%.
Wheat lost 1.2% to $4.98-1/4 a bushel and was headed for a second straight session of falls, while soybeans slid 0.5% to $8.51-3/4 a bushel.
"U.S weather likely allowed more planting over the last week and weather is looking okay this week for further progress in planting," said Ole Houe, director of advisory services at brokerage IKON Commodities.
The U.S. Department of Agriculture (USDA) last Monday reported U.S. corn planting was 67% complete, behind market estimates and well below the average pace of 96% at this time of year.
The market is waiting for the first U.S. condition ratings for the 2019 corn crop, which are expected from the USDA on Monday.
Large speculators switched to a net long position in Chicago Board of Trade corn futures in the week to June 4, regulatory data released on Friday showed.
The Commodity Futures Trading Commission's weekly commitments of traders report also showed that non-commercial traders, a category that includes hedge funds, trimmed their net short position in CBOT wheat and soybeans.
But on Friday, commodity funds were net sellers of CBOT corn, soybeans, soymeal, soyoil and wheat futures contracts, traders said.
(Reporting by Naveen Thukral; Editing by Joseph Radford and Subhranshu Sahu)
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