GRAINS-Soybeans fall for second session on supply outlook; wheat, corn slip
SINGAPORE, Sept 7 (Reuters) - Chicago soybean futures lost more ground on Wednesday, with expectations of a record U.S. production and higher South American planting weighing on the market sentiment.
Wheat and corn prices slid for the first time in three sessions.
* The most-active soybean contract on the Chicago Board of Trade (CBOT) lost 0.5% to $ 13.92 a bushel, as of 0007 GMT. Wheat fell 0.2% to $8.15-1/4 a bushel and corn gave up 0.6% to 6.72-1/4 a bushel.
* Forecasts of a record U.S. soybean crop are weighing on prices, as farmers prepare for harvesting their crop.
* Weekly condition ratings for U.S. corn and soybean crops held steady in the latest week, the U.S. Department of Agriculture said on Tuesday, bucking analyst estimates for a decline as dry conditions gripped portions of the western Midwest.
* In its weekly crop progress report, the USDA rated 54% of the U.S. corn crop and 57% of the soybean in good to excellent condition, unchanged from a week earlier.
* Favourable early projections for Brazil's next soybean and corn crops were adding pressure on Chicago futures.
* Argentine soybean farmers registered 268,000 tonnes of sales during the last week of August, according to agriculture ministry data released on Tuesday, as the country expects the pace of sales to increase as new incentives kick in.
* Russia on Tuesday questioned a U.N.-brokered deal with Ukraine to boost grain and fertilizer exports by both countries, accusing Western states of failing to honor pledges to help facilitate Moscow's shipments.
* Commodity funds were net sellers of CBOT soybean, soyoil and soymeal futures contracts on Tuesday, traders said. The funds were net buyers of CBOT corn and wheat.
* Global stock markets were mostly lower on Tuesday while benchmark U.S. Treasury yields jumped to their highest levels since June as a U.S. services industry report underscored expectations the Federal Reserve will need to keep hiking interest rates.
DATA/EVENTS (GMT) 0130 Australia Real GDP QQ, YY SA Q2 0300 China Exports, Imports YY Aug 0300 China Trade Balance Aug 0600 Germany Industrial Output MM July 0600 Germany Industrial Production YY SA July 0600 UK Halifax House Prices MM, YY Aug 0645 France Reserve Assets Total Aug 0900 EU GDP Revised QQ, YY Q2 1230 US International Trade July 1800 US The Federal Reserve issues the Beige Book of economic condition (Reporting by Naveen Thukral; Editing by Rashmi Aich)
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