GRAINS-Soybeans ease for third session on US weather; wheat, corn firm

SINGAPORE, May 19 (Reuters) - Chicago soybean futures lost more ground on Monday, with prices coming under pressure from improved U.S. growing conditions.

Wheat inched higher as dryness in China's key growing areas supported prices, while corn firmed on bargain-buying after last session's losses.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 fell 0.1% to $10.49 a bushel, as of 0236 GMT. Wheat Wv1 rose 0.7% to $5.28-1/2 a bushel and corn Cv1 added 0.2% to $4/44-1/4 a bushel.

* Beneficial planting and growing conditions for soybeans and corn crops in the U.S. Midwest have put pressure on futures.

* China has issued a warning on Friday about a high risk of dry, hot winds from next Monday to Thursday that could damage winter wheat crops in major producing areas, including Henan - a key wheat-growing province known as the country's granary.

* Large speculators increased their net short position in CBOT corn futures in the week to May 13, regulatory data released on Friday showed.

* 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 switched to a net long position in soybeans.

MARKET NEWS

* Asian shares slipped on Monday as a mixed bag of Chinese economic data showed the domestic economy was struggling even as U.S. tariffs began to bite into exports, while the White House kept up its rhetorical pressure on trade partners. MKTS/GLOB

DATA/EVENTS (GMT)

0900 EU HICP Final MM, YY Apr