GRAINS-Chicago soybeans slip on weak China demand; corn, wheat ease

BEIJING, Aug 18 (Reuters) - Chicago soybean futures fell on Monday, pressured by concerns over export demand as U.S. trade tensions with top buyer China continued to hang over the market.

Corn and wheat also edged lower amid abundant global supplies.

FUNDAMENTALS

* The most active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was down 0.58% at $10.36-4/8 per bushel, as of 0108 GMT.

* Corn Cv1 slipped 0.86% to $4.02 a bushel, while wheat Wv1 dropped 0.43% to $5.24-6/8 a bushel.

* U.S. soybean exporters risk missing out on billions of dollars worth of sales to China this year as trade talks drag on and buyers in the top oilseed importer lock in cargoes from Brazil for shipment during the key U.S. marketing season, traders said.

* The Pro Farmer Midwest crop tour will estimate corn yields and gauge soybean production potential across seven U.S. states this week before issuing its crop outlook on Friday.

* Traders will be monitoring findings after the USDA's projection last week of a record-smashing U.S. corn harvest and smaller soybean crop.

* Markets are also monitoring developments following U.S. President Donald Trump's talks with his Russian counterpart Vladimir Putin in Alaska over Ukraine. Both Russia and Ukraine are major grain exporters.

* Commodity funds were net buyers of Chicago Board of Trade corn, soybean, soyoil and wheat futures contracts on Friday and net sellers of soymeal futures contracts, traders said. COMFUND/CBT

MARKET NEWS

* Share markets edged higher in Asia on Monday ahead of what is likely to be an eventful week for U.S. interest rate policy, while oil prices slipped as risks to Russian supplies seemed to fade a little. MKTS/GLOB

DATA/EVENTS (GMT)

0430 Japan Tertiary Ind Act NSA June

0900 EU Total Trade Balance SA June