* Markets react calmly to Israel attack

* Corn planting weather stable

* Big Russian wheat shipments expected to continue

* Record numbers from NOPA crush report

(Recasts; updates byline, dateline from Hamburg; adds analyst quotes, rewrites throughout, adds details on soy and corn demand, U.S. weather)

CHICAGO, April 15 (Reuters) - CBOT soy, corn and wheat futures dropped on Monday, reflecting sluggish demand for grains and weakness in crude oil as concerns eased about Iran's weekend drone attack on Israel, analysts said.

Crude oil futures fell about 1% on Monday as fears cooled about the risk of a broader conflict in the Middle East, following a brief rally on Friday.

On the Chicago Board of Trade as of 12:44 p.m. CDT (1744 GMT), May soybeans were down 14-3/4 cents at $11.59-1/4 per bushel. CBOT May corn was down 4 cents at $4.31-1/2 a bushel and May wheat was down 5-3/4 cents at $5.50-1/4 a bushel.

Traders may have decided they "overdid" the risk premium on Friday, when CBOT corn and soybean futures each rose more than 1%, said Angie Setzer of Consus Ag Consulting. "Things may not be as bad as we thought," Setzer said. "Or at the very least, we're not necessarily on the edge of World War III."

Analysts said a dip in soybean prices could be attributed to falling demand and concerns that the U.S. Department of Agriculture's current estimate of the U.S. 2023/24 soybean crush, at 2.3 billion bushels, may be too high.

The National Oilseed Processors Association (NOPA) on Monday reported that its members crushed a record 196.406 million bushels of soybeans in March, up 5.5% from February and 5.7% from a year ago. However, the figure fell below an average of analyst expectations for 197.787 million bushels.

Wheat futures stayed low as agricultural consultancy Sovecon said that Russian exports are expected to remain at more than 1 million metric tons a week in April.

But traders continued to monitor winter wheat crops in the northern hemisphere, including the southern U.S. Plains, where potentially stressful high winds were expected on Monday.

Planting weather was generally favorable in the U.S. Corn Belt. Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to show corn planting as 7% complete and soybean planting as 2% complete. (Reporting by Renee Hickman, Additional reporting by Michael Hogan in Hamburg and Peter Hobson in Canberra; Editing by Janane Venkatraman, Mark Potter and Jan Harvey)