* Forecasts of rains some dry parts of U.S. Midwest weighs

* Wheat falls as Egypt cancels tender, Black Sea supplies weigh

SINGAPORE, July 20 (Reuters) - Chicago corn and soybean futures lost more ground on Wednesday, with prices pressured by expectations of beneficial rains in parts of the U.S. Midwest easing supply concerns.

Wheat slid after Egypt, the world's biggest importer, cancelled an international purchase tender that had drawn offers of U.S. wheat.

"The market was abashed by the USDA's (U.S. Department of Agriculture) steady U.S. corn crop conditions survey so that weighed on prices," said said Tobin Gorey, director of agricultural strategy at the Commonwealth Bank of Australia.

"Also weighing on prices was weather models' indicating more favourable projections of the U.S. Midwest."

The most-active corn contract on the Chicago Board of Trade (CBOT) lost 0.8% to $5.90-1/4 a bushel, as of 0413 GMT, and soybeans gave up 1% to $13.44-1/4 a bushel.

Wheat dropped 0.3% to $8.10 a bushel.

Corn and soybeans are being weighed down by forecasts pointing to beneficial rains in parts of the U.S. Midwest crop belt next week, which could bolster yields.

A weekly report showed stabilising U.S. crop conditions. The USDA late on Monday rated 64% of the U.S. corn crop in good-to-excellent condition, unchanged from the previous week, while analysts surveyed by Reuters on average had expected a decline of one percentage point.

Egypt's state grains buyer GASC cancelled its international tender for wheat with no purchase made, as offer prices were higher than estimates.

There was additional pressure on the wheat market amid hopes that a deal will be found to export more grains out of Ukraine as Russian President Vladimir Putin met with his Turkish counterpart in Iran to discuss the matter.

Unsold grain stocks have piled up in Ukraine as the country has not been able to access the Black Sea ports since Russia's invasion in February.

While some crops have left by rail or road through neighbours including Romania and Poland, millions of tonnes have piled up on farms.

The USDA estimated this month that Ukraine ended the 2021/22 season in June with 6.8 million tonnes of corn, an eight-fold rise from a year earlier, while wheat stocks almost quadrupled to 5.8 million tonnes.

Commodity funds were net sellers of CBOT corn, soybean, soyoil, soymeal and wheat futures contracts on Tuesday, traders said. (Reporting by Naveen Thukral; Editing by Subhranshu Sahu and Rashmi Aich)