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About 3% of intended US corn acreage planted: USDA

A total of 3% of the intended US corn acreage had been planted through Sunday, the Department of Agriculture said in its weekly crop progress report after Monday's market close.

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This level was 2 percentage points below the five-year average for this week and 3 percentage points below planting at the same time last year.

Little progress was expected in corn planting over the past week as soil temperatures have been below the normal temperature needed, sources said.

The data showed the level of crop planted below market estimates, which were around 4%, one source said.

Texas had the most crop acreage planted, with 60% of the total for the state planted. North Carolina had 30% of the state's crop planted and Tennessee had 11%.

The 18 states surveyed accounted for 92% of the 2017 corn acreage, the report said.

The CBOT May corn futures contract settled 3.75 cents lower Monday at $3.825/bushel

Corn is the main source of US-produced ethanol and also the main competitor for DDGS.

--Sergio Alvarado, sergio.alvarado@spglobal.com

--Edited by Keiron Greenhalgh, keiron.greenhalgh@spglobal.com