* Falling equities, crude oil weaken grains
* Favourable weather boosting U.S. corn, soy harvesting
CHICAGO, Sept 20 (Reuters) - U.S. corn and soybean futures
retreated on Monday as harvesting accelerated across the Midwest
farm belt and sinking energy and equities prices weighed on
Benchmark November soybean futures touched their
lowest point in 2-1/2 months, while December corn fell for
a third straight session and hit a one-week low. Wheat followed
corn and soybeans lower.
World stocks tumbled on Monday and the dollar firmed
as troubles at property group China Evergrande sparked concerns
about spillover risks to the economy.
"Crude oil is down, stocks are down and everybody's worried
about China and the global economy," said Ted Seifried, chief ag
market strategist for Zaner Ag Hedge Group. "That said, we're
into harvest now ... so there's a lot of seasonality at play
The U.S. corn harvest is expected to be 10% complete as of
Sunday and the soybean harvest was likely 5% done, according to
analysts polled by Reuters ahead of a weekly U.S. Department of
Agriculture (USDA) crop progress report due later on Monday.
Concerns about a sluggish recovery for Gulf Coast exporters
from Hurricane Ida damage last month added pressure to grains as
only a small number of export vessels have been able to load
from the grain shipping hub since the storm.
The volume of corn and soybeans weighed and inspected for
export remained well below normal levels last week, USDA data on
Monday showed. Corn export inspections were down 48% from the
same week a year ago, while soybean inspections were down 80%.
Chicago Board of Trade November soybeans hit a low of
$12.62 a bushel on Monday, the lowest since June 25, and futures
were down 20 cents at $12.64 a bushel at 12:15 p.m. CDT (1715
December corn was down 5-1/2 cents at $5.21-3/4 a
bushel and December wheat was 8-3/4 cents lower at $7.00 a
(Additional reporting by Michael Hogan in Hamburg, Naveen
Thukral in Singapore, editing by David Evans and Barbara Lewis)