Corn futures Tuesday skidded to multi-week lows on reports that U.S. farmers are catching up with crop plantings at a record-setting pace.
The U.S. Department of Agriculture Monday reported that 71 percent of the corn crop was in the ground, versus 28 percent last week. In the last five years, an average 79 percent has been planted by this time of year.
The increase of 43 percentage points amounts to 41.8 million acres, a record, according to Reuters.
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