CBOT corn slips after hitting contract highs

CHICAGO, Aug 31 (Reuters) - Chicago Board of Trade front-month corn futures slipped on Monday on profit-taking and spillover weakness from falling wheat futures, after corn hit life-of-contract highs during the session.

• Expectations for a poor yield from the U.S. corn belt have continued to propel prices higher.

• The U.S. Department of Agriculture is expected to rate 56% of the corn crop in good-to-excellent condition as of Sunday, down 1 percentage point from the previous week.

• Farmers in Brazil's center-south had planted 11% of the 2026/27 first corn crop as of last Thursday, up from 2% a week earlier and ahead of the 7% recorded a year ago, agribusiness consultancy AgRural said on Monday.

• Harvesting of the 2026 second corn crop reached 96%, up from 92% a week earlier.

• Harvest progress remained behind last year's pace, when the second corn crop harvest had already been complete

• The U.S. Department of Agriculture is scheduled to issue an update on U.S. crop conditions in a weekly report after trading ends.

• The most-active corn contract Cv1 settled 1-1/4 cents higher to $5.37-3/4 per bushel.

(Reporting by Heather Schlitz; Editing by David Gregorio)

((Heather.Schlitz@thomsonreuters.com;))