GRAINS-Corn sags for fifth straight session on lackluster demand
* Corn sags as weekly U.S. export inspections fail to impress
* May corn, soy contracts hit lowest levels since Jan. 12
* Wheat ends month down 7 pct, anchored by global supplies (Updates with closing prices)
By Julie Ingwersen
CHICAGO, Feb 29 (Reuters) - Chicago Board of Trade corn futures fell on Monday for a fifth straight session, retreating from early advances as concerns about weak demand pressured the market, traders said.
Soybean futures sagged on larger-than-expected deliveries against futures while wheat futures were mostly higher.
At the CBOT, the most active May corn contract settled down 2-1/2 cents at $3.57 per bushel after dipping to $3.56-3/4, its lowest level since Jan. 12.
May soy ended down 2-1/2 cents at $8.61 a bushel after falling to chart support at $8.60, its lowest since Jan. 12 as well. May wheat settled up 1 cent at $4.53-1/4 a bushel.
Corn was pressured in part by the U.S. Department of Agriculture reporting export inspections of U.S. corn in the latest week at 737,602 tonnes, in line with trade expectations. Continuación...