GRAINS-Wheat eases for 4th day on ample world supply; corn, soy fall

SINGAPORE, Aug 3 (Reuters) - Chicago wheat futures lost more ground on Thursday with the market trading close to its lowest since late June on pressure from ample global supplies. Corn and soybean prices gave up some of last session's gains as weather forecasts indicated little stress to maturing crops in the U.S. Midwest.


* Extremely poor conditions for U.S. spring wheat have largely been priced in. Harvesting of the drought-hit crop is now under way, while rising expectations for production in rival exporter Russia are tempering supply concerns.

* Russian agriculture consultancy IKAR on Tuesday increased its estimate for this year's wheat production in Russia to a record 74-77 million tonne range.

* For corn and soybeans, weather forecasts showed few serious threats in the next two weeks for the heart of the U.S. Midwest crop belt. The corn crop is filling kernels and soybeans are in the key pod-setting phase.

* Corn rose on Wednesday after fllowing a yield estimate from commodity brokerage INTL FCStone. The firm late Tuesday projected the U.S. corn crop at 13.590 billion bushels, with an average yield of 162.8 bushels per acre (bpa).

* The estimate is well below the USDA's most recent forecast for a corn crop of 14.255 billion bushels, with a trend-based yield of 170.4 bpa.

* Commodity funds were net buyers of Chicago Board of Trade corn and soybean futures contracts on Wednesday and net sellers of wheat, traders said.


* A gauge of world stocks edged lower on Wednesday even as Wall Street's venerable Dow Jones Industrial Average topped the 22,000 barrier on strength in Apple shares, while the U.S. dollar held near 15-month lows on doubts about another rate hike this year.


0145 China Caixin services PMI Jul 0750 France Markit services PMI Jul 0755 Germany Markit services PMI Jul 0800 Euro zone Markit services PMI final Jul 0900 Euro zone Retail sales Jun

1100 Bank of England announces interest rate decision

1230 U.S. Weekly jobless claims 1400 U.S. Factory orders Jun 1400 U.S. ISM-non manufacturing PMI Jul

Grains prices at 0036 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 459.75 -1.00 -0.22% -0.33% 500.28 29 CBOT corn 378.50 -0.50 -0.13% +0.53% 390.82 40 CBOT soy 974.75 -2.75 -0.28% +0.31% 985.91 40 CBOT rice 12.48 -$0.02 -0.12% +1.75% $11.94 75 WTI crude 49.45 -$0.14 -0.28% +0.59% $46.36 66


Euro/dlr $1.184 -$0.001 -0.08% +0.36% USD/AUD 0.7945 -0.002 -0.21% -0.28%

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)