GRAINS-Soybeans, corn, wheat dip as traders eye US crop estimate report

BEIJING, Sept 10 (Reuters) - Chicago soybeans slipped on Wednesday as traders squared positions ahead of a key U.S. supply and demand report.

Corn fell on favourable weather, and wheat weakened amid ample global supply.

FUNDAMENTALS

* The most active soybean contract on the Chicago Board of Trade (CBOT) Sv1 lost 0.19% to $10.29-2/8 per bushel as of 0117 GMT.

* Wheat Wv1 eased 0.1% to $5.19-6/8 a bushel, while corn Cv1 dropped 0.16% to $4.19-6/8 a bushel.

* Traders are awaiting the U.S. Department of Agriculture's global supply and demand estimates on Friday, with the agency expected to trim U.S. soybean and corn yield forecasts.

* In Brazil, soy exports are seen at 7.43 million tons in September, up from 6.75 million tons a week earlier, according to grain exporters' association Anec.

* U.S. corn harvesting is set to accelerate this week amid forecasts for mostly clear weather around the U.S. Midwest.

* In Russia, the world's biggest wheat supplier, export prices continued to decline last week as some farmers stepped up harvest sales.

* The USDA is expected to report a slight decrease in U.S. wheat ending stocks in its monthly report on Friday, while world wheat stocks are forecast to rise, according to a Reuters analyst poll.

* Commodity funds net sellers of CBOT corn, wheat, soybean futures, traders said. COMFUND/CBT

MARKET NEWS

* MSCI's global equity index rose on Tuesday while the dollar firmed and Treasury yields climbed ahead of key inflation reports following a sharp downward revision in March U.S. employment levels.MKTS/GLOB

DATA/EVENTS (GMT)

0130 China PPI, CPI YY Aug

1230 US PPI Machine Manuf'ing Aug