* Soybeans firmer on Brazilian crop weather worries
* Wheat moves higher after reaching lows on Monday
* Corn slumps on ample supplies
(New throughout, updates prices, market activity, U.S. trading comments; new byline, changes dateline, previous PARIS/SINGAPORE)
CHICAGO, Nov 28 (Reuters) -
Chicago soybean futures climbed more than 1% on Tuesday on concerns that scorching weather conditions in South America were taking a toll on crops, while the market also drew support from a fresh round of private sales by U.S. exporters.
Chicago Board of Trade (CBOT) wheat was pressured by a lack of demand and export market activity while corn declined in early-session trading on burdensome supplies.
CBOT January soybeans were up 19 cents at $13.48-3/4 a bushel by 11:06 a.m. CST (1706 GMT), supported by drought conditions in Brazil that are threatening crops as a recent bout of rains has not diminished ongoing concerns over the hot and arid weather in key growing areas.
"For soybeans, it may be oversold a little bit and weather-related (with) uncertainty in the northern areas of Brazil and Argentina," said Bill Lapp of Advanced Economic Solutions.
Brazilian farmers are expected to reap 155 million metric tons of soybeans in the 2023/24 cycle, 10 million tons
below initial expectations
, after a drought affected Mato Grosso state farmers who planted their crop early, a consultant at MB Agro said on Tuesday. The forecast was below the 163 million metric tons expected by the U.S. Department of Agriculture (USDA).
Soybeans were also supported by the USDA's confirmation that exporters sold 123,300 metric tons of the crop to
unknown destinations
for 2023/24 delivery.
Meanwhile, March corn was down 1/2 cent at $4.73-3/4 a bushel after hitting a contract low of $4.71. The market remained capped by the arrival of a bumper U.S. harvest.
CBOT March wheat rebounded from Monday's contract low, rising 6-3/4 cents to $5.67-3/4 a bushel.
The USDA on Monday rated 50% of the U.S. winter wheat crop in good-to-excellent condition, up two percentage points from last week and a bigger improvement than most analysts expected. (Additional reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Paul Simao)
