CBOT corn down nearly 1% on hope of rains in US.

Futures contracts of corn traded nearly 1% lower on CBOT as dry weather conditions in growing regions of Midwest US are seen easing now. Wet weather conditions are expected in upper Midwest US through the mid-Atlantic during the weekend. Areas from Kansas to Michigan may receive thundershowers from 03 august. However, fall in prices were limited by speculation that rains in the coming days may not be able to undo the damage already done to corn crop due to higher temperatures.