GRAINS-Wheat, soybeans slip further as weather jitters ease

* Chicago wheat hits lowest since Jan. 26

* Snow cover across U.S. Midwest eases crop worries

* Soybeans at 2-week low as Argentina set for some rain

* Corn also lower

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Feb 5 (Reuters) - Chicago wheat and soybean futures slid for a fourth consecutive session on Monday on an improving weather outlook for struggling crops in parts of major exporters the United States and Argentina. Corn similarly eased as the prospect of some rain relief in Argentine crop belts took the edge of recent worries about drought damage. A firm dollar and broad losses in financial markets also weighed on sentiment. The Chicago Board Of Trade most-active wheat contract was down 1.3 percent at $4.40-3/4 a bushel by the end of the overnight session. It earlier slipped to $4.39-1/4 a bushel, its lowest since Jan. 26. Soybeans fell 0.7 percent to $9.72-1/4 a bushel, near the session low of $9.70-1/2 that was its weakest since Jan. 18. Corn gave up 0.8 percent to $3.58-1/2 a bushel. "We are in a weather market. Wheat prices are coming down as there has been snowfall around the U.S. Midwest," said one India-based commodities analyst. Concern about drought damaging the U.S. winter crop drove prices to multi-month highs last week, encouraging investors to trim large short positions. But high global supply of the cereal helped cap the move and snowfall in U.S. wheat belts was now tempering weather worries. The snow is bringing needed moisture for crops while also offering a protective cover against freezing temperatures. Forecast rain in Argentina was also expected to curb crop stress in some areas. "Rainfall on the way for northern Argentina, but lackluster totals in Buenos Aires may only slow reductions to corn and soybean yields," Thomson Reuters Agriculture Research analysts said in a note. "Likely decreases to production in Argentina likely to be offset by increases in Brazil, especially for soybeans," they added. Informa Economics, a private analytics firm, lowered its estimates of Argentina's 2017/18 corn and soybean crops, according to an Informa client note seen by Reuters on Friday. Traders were turning their attention towards the U.S. Department of Agriculture's monthly supply and demand outlook on Feb. 8 to see what adjustments USDA would make for South American crops.

Prices at 1345 GMT

Last Chang Pct End Ytd Pct e Move 2017 Move CBOT wheat 440.75 -6.00 -1.34 427.00 3.22 CBOT corn 358.50 -3.00 -0.83 350.75 2.21 CBOT soy 972.25 -6.50 -0.66 961.75 1.09 Paris wheat Mar 156.25 -1.00 -0.64 159.00 -1.73 Paris maize Mar 151.50 -0.75 -0.49 157.75 -3.96 Paris rape Feb 343.75 -2.00 -0.58 352.75 -2.55 WTI crude oil 65.07 -0.38 -0.58 60.42 7.70 Euro/dlr 1.24 0.00 -0.16

Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne

(Reporting by Naveen Thukral in Singapore and Gus Trompiz in Paris, editing by Tom Hogue and David Evans)