* Rains in parts of U.S. Midwest weigh on soybeans, corn
* Market eyes U.S. crop condition report due later on Monday
(Updates with continued soy and corn weakness in European
SINGAPORE/HAMBURG, Aug 2 (Reuters) - Chicago soybean futures
slid for a second straight session on Monday and corn also
dropped, pressured by forecasts for rain in parts of the U.S.
Midwest grain belts.
Wheat rose on expectations of lower world harvests.
"(Soybean and corn) prices in the futures market are easing
a little but people are still cautious," said one
Singapore-based grains trader. "I think the market wants more
evidence of improved crop output before further reduction in
Chicago Board of Trade most-active soybeans fell 0.5%
to $13.41-3/4 a bushel at 0927 GMT, after falling 2.1% on
Corn fell 0.4% to $5.43 a bushel, wheat rose
1.4% to $7.14 a bushel.
Rains are forecast for some parts of U.S. Midwest, which
could boost U.S. soybean and corn crops, traders said.
Traders await direction from the U.S. Department of
Agriculture's weekly U.S. crop condition ratings on Monday, and
from private estimates of U.S. corn and soy yields, ahead of the
USDA's big Aug. 12 world supply/demand report.
Buoyed by strong demand, Brazilian farmers are poised to
expand their soybean area for the 15th consecutive year,
consultancy Datagro said.
The wheat market is being underpinned by lower global
production outlook and strong demand, with new purchase tenders
from big importers Egypt and Algeria closing on Monday.
An annual U.S. crop tour last week projected the average
spring wheat yield in North Dakota to be at 29.1 bushels per
acre this year, the lowest in tour records going back to 1993.
Russian agriculture consultancy IKAR lowered its wheat crop
forecast for 2021 to 78.5 million tonnes from 81.5 million
The International Grains Council cut its 2021/22 world wheat
crop forecast by one million tonnes to 788 million tonnes, with
the diminished outlook for North America only partially offset
by improved prospects in the European Union.
(Reporting by Naveen Thukral in Singapore and Michael Hogan in
Hamburg; Editing by Amy Caren Daniel and Louise Heavens)