Corn futures settle with a loss of nearly 6% on expectations for ample supplies

Corn futures on Tuesday settled nearly 6% lower, pressured by expectations for ample supplies, after a report from the U.S. Department of Agriculture said Monday that U.S. farmers in 18 states have planted 90% of their corn crops as of Sunday. That came in above the five-year average of 80%. The most-active July corn contract CN21, -5.55% fell 37 cents, or 5.6%, to settle at $6.20 1/4 a bushel in Chicago.