corn for december delivery fell 12 to 659 12 a bushel on the chicago board of trade on monday amid concerns about the global economy cheap offers grain futures mostly fell ahead of the thanksgiving holiday and as new covid19 cases in china stoke fears of slowing global demand adding to the bearish sentiment favorable brazilian weather and weaker black sea fob price offers following the continuance of the black sea corridor export pact also weighed on futures agresource said in a report us corn soybeans and wheat are noncompetitive in the world from january onward agresource said the export demand outlook for us grain is challenged by cheaper offers abroad china soy demand the usda reported that soybean export inspections rose to 233 million last week from 196 million the week before the main destination was china the weekly grain export inspections report also recorded increased inspections for wheat while corn saw a decrease ahead of the report the grains complex weakened under the prospect of new covid19 restrictions but while corn and wheat remained lower after the data release soybeans bounced back irregular rain brazilian farmers advanced in their soybean planting work though they remain behind last years pace said analysts at agricultural consultancy agrural in a research note as of nov 17 farmers had finished planting on 80 of the estimated area to be sown with the oilseeds agrural said that was up from 69 a week earlier but down from 86 on the same date last year most of the areas remaining to be planted are in the south and the northeast the consultancy said irregular rain in brazils breadbasket centersouth states has farmers concerned though precipitation improved last week from the previous week agrural said energy drive volatility in corn futures reflected oscillations in energy futures amid conflicting indications of what oil producing countries are going to do crudeoil prices slid in early trade on news opec was going to increase production only to bounce later after saudi arabia said cuts were actually possible since corn is used to make ethanol it is susceptible to crude prices agresources dan basse said corn is still seen as a biocrop and the biocrops are falling in line with energies he said deere  co will release its fourthquarter earnings report before the stock market opens wednesday the eia will release its weekly ethanol production and stocks report at 1030 am et wednesday the usda will release its monthly livestock slaughter report at 3 pm et wednesday the usda and the chicago board of trade will both be closed thursday in observance of thanksgiving both will reopen on friday the usda will release its weekly export sales report at 830 am et friday