GRAINS-Corn, soybeans fall as large U.S. harvest nears end

* Chicago corn, soybeans down as U.S. harvest nearly over

* Wheat flat as Black Sea sales keep U.S. grain in silos

(Recasts with European trade, adds new comment, changes dateline) HAMBURG, Nov 21 (Reuters) - Chicago corn and soybeans fell on Tuesday following new signs that the bumper U.S. harvest this summer is progressing smoothly to a close. Wheat was flat, with abundant global supply again pressuring prices, but with some bargain-buying support after sharp falls on Monday. Chicago Board of Trade December corn was down 0.3 percent at $3.43-3/4 a bushel at 1127 GMT after rising 0.5 percent on Monday. January soybeans fell 0.2 percent to $9.88 a bushel after ending little changed on Monday, and December wheat fell 0.06 percent to $4.22-1/4 a bushel after dropping 1.4 percent on Monday. The U.S. Department of Agriculture (USDA) said on Monday the U.S. soybean harvest was 96 percent complete and the corn harvest was 90 percent finished. Both figures were 1 percentage point below analyst estimates, but robust progress has been made on the week in both crops. "The U.S. corn and soybean harvests are approaching their end very rapidly now as the USDA said on Monday and there do not seem to be too many problems being faced," said Graydon Chong, senior commodity analyst with Rabobank. "This is a weakening factor today with large U.S. supplies coming onto the world market." "But the downside for corn is limited by the large short position held by investment funds in corn." "Soybeans continue to be weakened by India's decision to impose import tariffs on vegetable oils which will reduce demand." Global vegetable oil markets tumbled this week after India's announcement on Friday that it was hiking import taxes on crude palm oil to 30 percent from 15 percent. "Going forward, soybean market attention is focused strongly on weather in South American production regions, especially Brazil and Argentina, and prices are likely to react to changes there," Chong said. Wheat is seeing bargain-buying support after falls on Monday and on some dollar weakness but remained burdened by intense competition to U.S. supplies in world markets. "Russian and other Black Sea exports continue at a very rapid pace," Chong said. "The Australian harvest is gathering speed and some indications are that results are slightly better than previously expected."

Grains prices at 1127 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 422.00 0.00 +0.00% -1.23% 428.53 45 CBOT corn 344.00 -1.00 -0.29% +0.29% 346.72 52 CBOT soy 987.75 -2.25 -0.23% -0.28% 988.58 56 CBOT rice $12.32 -$0.05 -0.44% +0.28% $11.94 79 WTI crude $56.54 $0.12 +0.21% -0.02% $54.18 61


Euro/dlr $1.172

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

Chicago wheat has been on a downward trend since September as exporters in the United States and parts of Europe are struggling to win business as Black Sea rivals, led by Russia with a record crop, dominate the global market. There could be further pressure on prices as Ukrainian winter grain crops are in a better condition than at the same date last year thanks to favorable weather.

(Reporting by Michael Hogan; Additional reporting by Naveen Thukral; Editing by Mark Potter)