GRAINS-Wheat falls as Russia's new crop arrives on the market

CANBERRA, July 22 (Reuters) - Chicago wheat futures fell on Tuesday as top exporter Russia began to ship grain from its new crop, underscoring expectations of plentiful supply in the months ahead.

Corn and soybean futures rose slightly, clawing back some of the previous session's losses amid a mixed weather outlook in the United States.

FUNDAMENTALS

* The most active wheat contract on the Chicago Board of Trade (CBOT) Wv1 was down 0.5% at $5.39-1/2 a bushel at 0031 GMT, with CBOT soybeans Sv1 rising 0.2% to $10.28-1/4 a bushel and corn Cv1 up 0.2% at $4.23 a bushel.

* Prices of all three Chicago contracts are stuck near multi-month or multi-year lows due to ample supply.

* The first grain from Russia's new crop has arrived on the market, traders and analysts said.

* Russian export prices continued to rise last week due to the slow arrival of the new crop and the risk of low production in the country's south, but the overall harvest is expected to be large, at around 83-84 million metric tons.

* In the United States, the Department of Agriculture (USDA) rated 52% of the U.S. spring wheat crop in good-to-excellent condition as of Sunday, a decline from the previous week and at the low end of a range of analyst expectations, and said the winter wheat harvest was 73% complete.

* Bangladesh, meanwhile, agreed to step up imports of U.S. wheat by buying 700,000 tons annually for the next five years.

* The U.S. Midwest will see a brief burst of heat mid-week, but showers are expected to limit stress to crops, said Commodity Weather Group.

* U.S. corn crops are passing the key stage of pollination in July, and August is the most important month for weather to influence the size of the soybean harvest.

* The USDA rated 74% of the U.S. corn crop in good-to-excellent condition, the highest rating for this time of year since 2016 and unchanged from the previous week.

* It said 68% of soybeans were in good-to-excellent condition, down from 70% the previous week and below the average analyst estimate.

* Agribusiness consultancy AgRural increased its estimate for Brazil's total 2024/25 corn production to 136.3 million tons from 130.6 million tons.

* Commodity funds were net sellers of CBOT corn, wheat and soybeans on Monday, traders said.

MARKETS NEWS

* Wall Street stocks advanced on Monday, while Treasury yields softened at the top of a busy week of corporate earnings reports, as tariff negotiations between the U.S. and its trading partners ramped up in the face of a fast-approaching August 1 deadline. MKTS/GLOB