* Soybeans rise for 3rd session as hot weather hits U.S. crop
* Wheat buoyed by expectations of lower global production
(Adds details, quotes) SINGAPORE, Aug 9 (Reuters) - Chicago soybean futures climbed to a one-week high on Thursday, rising for a third consecutive session with the market underpinned by forecasts of hot and dry weather in parts of the U.S. Midwest. Wheat gained more ground as dry weather curbs production in key exporting regions across the northern hemisphere. There was additional support for the soybean market from soaring Chinese domestic prices, which fuelled expectations that Beijing will accelerate buying of U.S. supplies despite a trade war between the two nations. The Chicago Board Of Trade most-active soybean contract rose 0.2 percent to $9.12 a bushel by 0330 GMT, having firmed earlier in the session to $9.14-1/2 a bushel, the highest since Aug. 1. Wheat was up 0.2 percent at $5.71 a bushel and corn eased 0.1 percent to $3.84-3/4 a bushel. "U.S. weather has become an issue for corn and soybean crops. We started with near-perfect weather and expectations of record yields," said an India-based agricultural commodities analyst. "Record yields for soybeans are out of the picture now although we are still looking at a bumper U.S. harvest." Recent dry weather in parts of the U.S. farm belt has tempered expectations of soybean and corn crops. After rains this week, a warmer, drier pattern is expected in parts of key growing regions. Soybeans have been under pressure amid a trade war between the world's two largest economies, with Beijing slapping additional tariffs of 25 percent on $16 billion worth of U.S. imports. However, analysts say U.S. soybean shipments to the world's top importer could revive later in the year after China draws down available supplies in top exporter Brazil. U.S. Department of Agriculture will on Friday issue its latest monthly crop supply and demand report. The report, the first of the season to include field surveys of U.S. crops, is expected to show larger corn and soy yields and production.
Wheat prices pushed higher by eroding harvest prospects in Europe and Russia. German farm cooperatives group DRV said the country's 2018 grain harvest will be the lowest in 24 years.
Commodity funds were net buyers of CBOT corn, wheat soybean and soymeal futures contracts on Wednesday, and net sellers of soyoil, traders said.
Grains prices at 0330 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 571.00 1.00 +0.18% -0.61% 518.08 70 CBOT corn 384.75 -0.25 -0.06% -0.13% 370.29 64 CBOT soy 912.00 1.50 +0.16% +2.07% 876.44 63 CBOT rice 10.61 -$0.04 -0.42% -5.94% $11.74 9 WTI crude 67.03 $0.09 +0.13% -3.09% $70.24 34
Euro/dlr $1.161 $0.002 +0.15% +0.53% USD/AUD 0.7444 0.002 +0.32% +0.79%
Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential
(Reporting by Naveen Thukral; Editing by Amrutha Gayathri)