GRAINS-Wheat eases after rally on U.S. weather woes, corn falls

* Wheat dips 0.2 pct after rising almost 3 pct on Monday

* Harsh U.S. weather, Ukraine tensions limit losses

* Corn falls 0.4 pct, slow pace of U.S. planting underpins

(Adds comment, detail) SINGAPORE, April 15 (Reuters) - U.S. wheat dipped on Tuesday after rising the most in three weeks in the last session, but losses were limited by concerns over cold weather hitting the U.S. winter crop and tensions in key grain supplier Ukraine. Corn slipped 0.4 percent, giving up some of last session's gains, which were driven by slow pace of U.S. planting and strong global demand. Chicago Board of Trade wheat for May delivery fell 0.2 percent to $6.77-1/2 a bushel by 0308 GMT, after climbing 2.8 percent on Monday when it touched a near two-week high of $6.89-1/2. The U.S. National Weather Service warned of freezing conditions for Tuesday morning across wheat-growing areas in western Oklahoma and parts of northern Texas. Winter wheat becomes more vulnerable to freeze injury as it matures in the spring. "Cold and dry conditions on the U.S. Plains are a concern for the wheat market," said Paul Deane, agricultural commodity strategist at ANZ in Melbourne. "A brief cold snap across the Midwest is forecast, pushing deep into the south, with record low temperatures possible in Texas. On top of that the 15-day weather outlook is for continued below average rainfall across the major Hard Red Winter wheat states." The U.S. Department of Agriculture rated the winter wheat crop at 34 percent good to excellent, 1 percentage point below last week and two points below a year ago, broadly in line with market expectations. Rising turmoil in Ukraine and persistent dry weather throughout the Black Sea region prompted French analyst Agritel to cut its 2014 grain output forecasts for the region. Ukraine and Russia, among the world's largest grain exporters, have struggled to raise financing to sow spring grains including maize, with lenders tightening payment procedures due to the instability in the region. Pro-Russian separatists ignored an ultimatum to leave occupied government buildings in eastern Ukraine and instead seized more buildings as the government failed to follow through on a threatened military crackdown. CBOT corn slipped 0.4 percent to $5.01-1/4 per bushel and soybean gained 0.1 percent to $14.78 a bushel. Three percent of the U.S. corn crop was planted as of Sunday, in line with analyst expectations ranging from 1 to 5 percent, the USDA said in its first such plantings update of 2014. The USDA reported export inspections of U.S. corn in the latest week at 1.449 million tonnes, above a range of trade estimates.

Prices at 0308 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 677.50 -1.25 -0.18% +2.61% 679.83 52 CBOT corn 501.25 -1.75 -0.35% +0.55% 491.93 54 CBOT soy 1478.00 1.75 +0.12% +1.03% 1442.38 55 CBOT rice $15.41 -$0.01 -0.10% -1.60% $15.47 39 WTI crude $103.30 -$0.75 -0.72% -0.42% $100.81 60


Euro/dlr $1.382 $0.000 -0.02% -0.49% USD/AUD 0.939 -0.003 -0.29% +0.01%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Naveen Thukral; Editing by Joseph Radford)