GRAINS-Soybeans, wheat, corn set for second year of losses

Updates prices

SINGAPORE, Dec 31 (Reuters) - Chicago soybean, wheat and corn futures were set for a second consecutive year of declines on Tuesday as ample world supplies added pressure on prices.

Wheat prices could find some support in 2025 on worries over adverse crop weather in top exporter Russia, while expectations of an all-time high soybean output in No. 1 supplier Brazil are likely to keep a lid on prices of the oilseed.

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 has lost almost a quarter of its value in 2024. Wheat Wv1 has given up almost 13% while corn Cv1 is down 4%.

Tuesday, soybeans rose 0.1% to $9.93 a bushel, as of 0302 GMT, wheat lost 0.3% to $5.46-3/4 a bushel and corn was flat at $4.52-1/4 a bushel.

Conditions for winter wheat crops will worsen in Russia's Central and Volga areas in January, as warmer-than-usual weather and excess moisture causes sprouts to keep growing during the winter, the state weather agency said on Saturday.

Global wheat stocks are likely to drop by the end of June 2025 to 257.88 million metric tons, the lowest in nine years, according to the U.S. Department of Agriculture (USDA) data.

Brazilian national crop agency Conab and oilseed crushing group Abiove earlier in December increased their estimates for the country's 2025 soybean crop, which could reach record levels following improved weather conditions.

Large speculators raised their net long position in CBOT corn futures in the week to Dec. 24, regulatory data showed on Monday.

The Commodity Futures Trading Commission's weekly commitments of traders report also showed that non-commercial traders, a category that includes hedge funds, increased their net short position in CBOT wheat and trimmed their net short position in soybeans.

(Reporting by Naveen Thukral; Editing by Varun H K and Sumana Nandy)

((naveen.thukral@thomsonreuters.com; +65-6870-3829; Reuters Messaging: naveen.thukral.thomsonreuters.com@reuters.net))