(New throughout; updates prices, adds quotes, changes byline, changes dateline from previous SINGAPORE/PARIS)

CHICAGO, Jan 25 (Reuters) -

U.S. soybean futures fell about 1.5% on Thursday, pressured by weak export demand for U.S. supplies of the oilseed given strong competition from Brazilian supplies, along with sliding values for soybean oil, traders said.

Corn futures followed soybeans lower. Wheat futures were narrowly mixed in choppy trade while Kansas City hard red winter wheat futures rose.

As of 12:34 p.m. CST (1834 GMT), Chicago Board of Trade (CBOT) March soybeans were down 18-3/4 cents, or 1.6%, at $12.21-1/2 per bushel and March soybean oil was down 0.84 cent, or 1.8%, at 46.48 cents per pound.

CBOT March corn was down 2-1/4 cents at $4.50 a bushel. CBOT March soft red winter wheat was down 3/4 cent at $6.10 a bushel while K.C. March hard red winter wheat was up 8 cents at $6.33-3/4 a bushel.

Soybeans fell after the U.S. Department of Agriculture (USDA) reported U.S. soybean

export sales

in the latest week at 560,900 metric tons, below a range of

trade expectations, underscoring stiff competition from top global supplier Brazil.

"It's difficult to justify a rally that rations demand for U.S. soybeans when they're already the highest priced on the market," StoneX chief commodities economist Arlan Suderman wrote in a client note.

CBOT March soyoil futures fell nearly 2% on reduced domestic demand from renewable diesel plants as well as food makers, traders said.

"We might be seeing a little bit of bean oil back up here domestically," said Terry Reilly, senior agricultural strategist for Marex.

Market players were also monitoring crop weather in South America as the Brazilian soy harvest expands and Argentine crops continue to develop.

CBOT wheat futures were mixed while the K.C. March hard red winter wheat contract posted a three-week high on optimism about demand for high-quality milling wheat.

"There is some question whether maybe some of the demand for wheat will shift to North America and Europe, with the Middle East situation," Reilly said. Drought in the U.S. Plains curbed production of U.S. hard red winter wheat in the last two years, tightening supplies of the food grain.

(Reporting by Julie Ingwersen; additional reporting by Naveen Thukral in Singapore and Gus Trompiz in Paris Editing by Marguerita Choy)