GRAINS-Corn slips to 10-day low on wet U.S. weather outlook
* Updated forecasts call for wetter U.S. weather - CWG
* Strategie Grains raises forecast for EU wheat crop
* Corn falls by more than 1 pct, soy off 0.6 pct
(Adds quotes, background, previous Sydney)
LONDON, July 18 (Reuters) - U.S. new-crop corn prices fell by more than 1 percent to a 10-day low on Thursday as the fear of crop damage was eased with forecasts for rain across much of the corn belt.
Wheat was little changed, shrugging off pressure from corn on expectations of increased demand, while soybeans fell for the second straight session on the improved weather outlook.
Chicago Board of Trade December corn was down 1.05 percent at $4.96-3/4 a bushel at 1152 GMT, after earlier falling to $4.95, the lowest since July 8.
"The 15-day outlook is for more rain and less threatening weather so the threat to yields is falling," said Andrew Woodhouse, grains analyst at Advance Trading Australasia.
Wetter weather is forecast for the next two weeks in the U.S. Midwest, Commodity Weather Group said on Wednesday.
CBOT November soybeans fell 0.6 percent to $12.75-1/2 a bushel.
Corn and soybeans had firmed earlier in the week following forecasts for hot, dry weather across the Midwest later in the month, threatening crop yields.
The U.S. Department of Agriculture rated 66 percent of the U.S. corn crop in good to excellent condition, down from 68 percent a week earlier. For soybeans, 65 percent of the crop was rated good or excellent, down from 67 percent the previous week.
CBOT September wheat rose a marginal 0.2 percent to $6.66-1/4 a bushel, drawing support from expectations of increased global demand for wheat. It had closed down 0.7 percent on Wednesday.
Brazilian importers are expected to return to buy more U.S. hard red winter wheat this week following recent large purchases.
Chinese importers are also negotiating deals to buy at least half a million tonnes of Australian wheat for January-March shipment to replace some of its weather-damaged domestic crop.
November milling wheat futures in Paris was unchanged at 194.50 euros a tonne.
Dealers said the outlook for the European Union's wheat crop continued to improve.
French analyst Strategie Grains on Thursday lifted its forecast for this year's soft wheat harvest in the European Union for the second month in a row on favourable growing conditions in much of the bloc.
"We have had sunny and dry weather all week which has been good for wheat," one German trader said. "Dry and warm weather is also mostly forecast up to Monday, which is exactly what wheat plants need."
(Additional reporting by Colin Packham in Sydney and Michael Hogan in Hamburg; Editing by Anthony Barker)