US corn advances on crop planting delays

SYDNEY - United States corn futures jumped more than 0.5 percent on Tuesday. The advance came on a government report released after the market close on Monday that showed slower-than-expected planting of the crop in the US.

Chicago Board of Trade corn for July delivery, the bellwether contract, rose 0.54 percent to $7.38-1/2 a bushel in early Asian trade after falling 3 percent on Monday on expectations that farmers will pick up the pace of planting.

Soybeans for July delivery fell 0.25 percent to $13.89-1/2 a bushel, dragged down by the prospect of a record Brazilian crop now being harvested. The contract was little changed on Monday.