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GRAINS-Soybeans at 14-month low as U.S. weather worries recede

* Soybeans fall to lowest since March 2016

* Less concern about rain disrupting U.S. sowings

* Weather also reasonable for U.S. corn and wheat

(Recasts with European trade, changes dateline) HAMBURG, May 30 (Reuters) - Chicago soybean futures hit their lowest in 14 months on Tuesday on expectations U.S. farmers could complete plantings without serious disruption from excessive rain. Corn and wheat also dropped on overall positive outlooks for U.S. crops. Chicago Board of Trade most-active July soybeans fell 0.1 percent to $9.24-3/4 a bushel at 1014 GMT after dropping to $9.22-3/4 a bushel - the lowest since March 2016. Soybeans fell 1.4 percent on Friday and U.S. markets were closed for the Memorial Day holiday on Monday. July corn fell 0.9 percent to $3.70-3/4 a bushel, having gained 1.2 percent on Friday. July wheat fell 0.8 percent to $4.34-1/2 a bushel, having risen 1.9 percent on Friday. U.S. farmers are actively planting soybeans and if the weather remains favorable, prospects for a large U.S. crop could put more downward pressure on prices. "Soybeans are being weakened today by the overall decent weather in the U.S. grain belts which could allow farmers to complete their soybean plantings," said Matt Ammermann, commodity risk manager at INTL FCStone. "The weather is also reasonable for the final stages of U.S. corn sowings and for the early stages of the U.S. wheat crop." "We are still in a somewhat volatile weather-driven market. There had been fears on Friday going into the long holiday weekend in the United States about the possibility rain could disrupt U.S. plantings of corn and soybeans." "But as no new drastic weather fears have developed over the weekend, the market is now starting to expect more soybeans to be planted in the U.S. Up to June the likelihood is that farmers will plant more soybeans than corn if they can." "The markets had already been anticipating and increase in U.S. soybean sowings and the probability of this being achieved is rising." Record South American soybean harvests are also weighing on prices, with Brazil expected to accelerate sales. "Weather for the wheat harvest now starting in the U.S. is also reasonable with no disasters currently seen," Ammermann said. "However, the impact of the springtime snowstorms which hit U.S. grain belts a few weeks ago is still unknown and markets will be closely watching the early harvest results and U.S. crop condition reports due out at the end of today." Argentina's government expects a record wheat crop of about 20 million tonnes thanks to farmers' investment in better seeds and fertilizers, a forecast that is above private estimates. Grains prices at 1014 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 434.50 -3.75 -0.86% +0.87% 433.22 58 CBOT corn 370.75 -3.50 -0.94% +0.41% 369.56 52 CBOT soy 925.00 -1.50 -0.16% -1.54% 960.05 26 CBOT rice $11.01 $0.04 +0.32% +0.73% $10.29 66

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

RSI 14, exponential

(Reporting by Michael Hogan, additional reporting by Naveen Thukral, editing by David Evans)