US wheat futures touch contract lows on beneficial rains

CHICAGO, April 28 (Reuters) - U.S. wheat futures set contract lows on Monday as more rain was expected in dry growing areas of the Plains after showers over the weekend, analysts said.

• Rain is projected to aid wheat crops in the Plains over the next 10 days, Commodity Weather Group said on Monday morning.

• Analysts on average expected the U.S. Department of Agriculture to rate 47% of the nation's winter wheat crop in good to excellent condition in a weekly report due at 3 p.m. CDT (2000 GMT) on Monday, according to a Reuters survey. That would be up from 45% a week ago.

• For spring wheat, grown mostly in the northern Plains, analysts on average estimated U.S. planting progress as 31% complete, up from 17% the previous week.

• CBOT July soft red winter wheat WN25 dropped 14 cents to end at $5.31 per bushel. The contract earlier set a low of $5.27-1/4.

• K.C. July hard red winter wheat KWN25 ended down 11-1/4 cents at $5.39-3/4 per bushel after reaching a contract low of $5.34-1/2.

• Minneapolis July spring wheat MWEN25 was 8 cents lower at $5.98-1/4 a bushel at the end of trading.