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GRAINS-Wheat eases for 2nd session on supply pressure, corn little changed

* Wheat falls for 2nd session after climbing to 3-month top * Corn unmoved, U.S. planting delays support prices (Adds details, quote) By Naveen Thukral SINGAPORE, May 23 (Reuters) - Chicago wheat futures slid for a second session on Thursday with pressure from expectations of bumper production across much of northern hemisphere. Corn was largely unchanged after strong gains this week, underpinned by more rains in parts of the U.S. Midwest further delaying planting. The most active wheat contract on the Chicago Board of Trade lost 0.2% at $4.72 a bushel by 0259 GMT, after closing down more than 1% on Wednesday. Corn was unchanged at $3.94-1/2 a bushel and soybeans gave up 0.2% to $8.26-3/4 a bushel. "Wheat prices rose largely on the back of gains in the corn market," a Singapore-based grains trader said. "There are no bullish fundamentals with wheat as production in the Black Sea region and the United States is expected to be above average." Russia and Ukraine, dominant players in the global wheat trade, are expected to harvest near-record crops in the coming months. Heavy rain is expected this week in parts of the Midwest and Plains. It has rattled grain markets as it could compound corn planting delays after a soggy spring. The U.S. Department of Agriculture said on Monday that a lower-than-expected 49% of the U.S. corn crop has been planted, the slowest pace on record, based on data going back to 1980. Soybeans were 19% planted, also short of market expectations. The Trump administration is considering direct payments to U.S. farmers of $2 per bushel for soybeans as part of an aid package to offset the trade war with China, Bloomberg reported on Tuesday, an offer that could encourage more soy planting despite record supplies. The USDA, however, released a statement suggesting it was inaccurate. Commodity funds were net buyers of Chicago Board of Trade corn, soybean, soymeal and soyoil futures contracts on Wednesday and net sellers of wheat, traders said. Grains prices at 0259 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 472.00 -0.75 -0.16% -1.31% 449.24 68 CBOT corn 394.50 0.00 +0.00% +1.41% 368.38 81 CBOT soy 826.75 -1.75 -0.21% -0.60% 855.96 49 CBOT rice 11.34 $0.00 +0.00% +0.98% $10.79 90 WTI crude 61.10 -$0.32 -0.52% -3.00% $63.07 Currencies Euro/dlr $1.115 $0.000 -0.04% -0.19% USD/AUD 0.6873 0.001 +0.07% -0.28% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Naveen Thukral; Editing by Rashmi Aich)

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