GRAINS-Corn, soybeans fall on US weather; wheat slips for fifth session
SINGAPORE, July 10 (Reuters) - Chicago corn futures slid on Thursday, falling for three out of four sessions, while soybeans lost more ground as forecasts of crop-friendly weather in the U.S. Midwest boosted prospects for both crops.
Wheat slid for a fifth consecutive session on harvest pressure.
FUNDAMENTALS
* The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 fell 0.5% to $4.13-1/4 a bushel, as of 0010 GMT, and soybeans Sv1 slid 0.3% to $10.04-3/4 a bushel.
* Wheat Wv1 was down 0.6% at $5.43-1/2 a bushel.
* Favourable U.S. crop weather continues to hang over grain futures, fuelling expectations for sizable corn and soybean harvests this autumn.
* The next 15 days will likely be the most critical period of development for the corn crop, and near-normal temperatures are expected in most areas of the Midwest, weather firm Vaisala said.
* For wheat, the ongoing harvest across key exporters in the Northern Hemisphere continues to pressure prices.
* Grain traders remain worried that U.S. tariff disputes with key trading partners may hurt demand for U.S. crops and exacerbate a glut in supply.
* The U.S. Department of Agriculture is slated to update monthly estimates for global grain supplies and demand on Friday.
* Commodity funds were net sellers of CBOT soybean, soyoil and wheat futures contracts on Wednesday, traders said. Funds were net buyers of corn futures and net even in soymeal, they said. COMFUND/CBT
MARKET NEWS
* Major stock indexes rose on Wednesday as Nvidia briefly climbed to a $4-trillion valuation, while the euro edged lower, with the Trump administration getting closer to a deal with its biggest trading partner, the European Union. MKTS/GLOB
DATA/EVENTS (GMT)
0600 Germany HICP Final YY June
0900 Germany, France, UK Overall Comprehensive Risk Q3
1230 US Initial Jobless Clm 5 July, w/e
1430 US EIA-Nat Gas Chg Bcf 4 July, w/e
1430 US Nat Gas-EIA Implied Flow 4 July, w/e
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