GRAINS-Wheat falls for second session on US crop prospects; corn firms

SINGAPORE, June 4 (Reuters) - Chicago wheat futures slid for a second session on Wednesday, with the improved condition of the U.S. crop boosting supply prospects.

Soybeans eased amid crop-friendly weather in the U.S. Midwest, while corn ticked higher.

The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 fell 0.1% to $5.35-1/2 a bushel, as of 0330 GMT, and soybeans Sv1 lost 0.1% to $10.39-1/4 a bushel. Corn Cv1 added 0.1% to $4.39 a bushel.

The U.S. Department of Agriculture's weekly crop progress report showed on Monday that 50% of U.S. spring wheat and 52% of winter wheat are in good to excellent condition, exceeding analyst expectations.

Favourable U.S. weather has also bolstered corn and soybean production prospects, keeping a lid on prices.

On Tuesday, higher crude oil prices CLc1 lifted the soybean complex as well as corn, given both crops' role in the production of biofuels.

On the trade front, U.S. President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions.

Worries about demand for U.S. soybeans from the world's biggest oilseed consumer have hung over soybean futures.

Ukraine's 2025 grain harvest may decrease by 10% to around 51 million metric tons compared to 56.7 million metric tons in 2024, according to the most pessimistic estimates, Ukrainian agriculture minister Vitaliy Koval said.

Commodity funds were net buyers of CBOT soyoil and soybean futures contracts on Tuesday and net sellers of soymeal, wheat and corn futures, traders said. COMFUND/CBT