GRAINS-Soybeans snap last session's rally on hopes of bumper US harvest

SINGAPORE, Aug 12 (Reuters) - Chicago soybeans slid on Tuesday, pressured by expectations of a bumper U.S. harvest, giving up some of last session's gains, which were driven by U.S. President Donald Trump's remarks that he hoped China would quadruple its soybean purchases.

Corn and wheat eased as traders squared their positions ahead of the monthly U.S. Department of Agriculture (USDA) supply and demand report, which is expected to show plentiful supplies.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 fell 0.3% to $10.08-3/4 a bushel as of 0017 GMT, after climbing nearly 2.5% on Monday.

* Corn Cv1 lost 0.2% to $4.07 a bushel and wheat Wv1 shed 0.2% to $5.14-1/4 a bushel.

* U.S. soybean prices jumped to a two-week high on Monday after Trump urged China, the world's biggest soybean importer, to quadruple its purchases ahead of a tariff truce deadline, though analysts questioned the feasibility of any such deal.

* China has not yet pre-purchased soybeans from the upcoming U.S. harvest amid trade tensions with Washington, an unusual delay that has fuelled concerns among U.S. farmers and traders as the harvest export season approaches.

* On Monday, Trump signed an executive order extending a tariff truce with China by another 90 days, with only hours to go before U.S. tariffs on Chinese goods were due to snap back to triple-digit rates.

* Condition ratings for U.S. corn and soybean crops eased in a weekly USDA report on Monday, though farmers were still expected to harvest large crops.

* The USDA rated 72% of the corn crop as being in good or excellent shape as of Sunday, down from 73% last week. It was the highest rating for this time of year since 2016.

* The soybean crop was rated 68% good to excellent, down from 69% last week and the same as a year ago.

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

MARKET NEWS

* Global equity markets lost ground on Monday in a choppy session, while yields of long-dated U.S. Treasuries fell as investors weighed developments on trade and geopolitics in addition to key U.S. economic data. MKTS/GLOB

DATA/EVENTS (GMT)

0600 UK ILO Unemployment Rate June

0600 UK Claimant Count Unem Chng, HMRC Payrolls Change July

0900 Germany ZEW Economic Sentiment, Current Conditions Aug

1230 US Core CPI, CPI MM, SA July

1230 US Core CPI, CPI YY, NSA July

1230 US CPI Wage Earner July