(New throughout, updates prices, adds quotes, changes byline, changes dateline, previous LONDON) CHICAGO, Nov 13 (Reuters) - U.S. corn futures fell 1 percent on Tuesday, following broad declines in commodities led by sagging crude oil futures, analysts said. Wheat futures fell about 2 percent, retreating after Monday's short-covering rally, and soybeans were also lower. As of 12:52 p.m. CST (1852 GMT), Chicago Board of Trade December corn was down 4-1/4 cents at $3.67 a bushel after dipping to $3.65-1/2, the contract's lowest since Nov. 2. CBOT December wheat was down 12 cents at $5.07-3/4 a bushel and January soybeans were down 5 cents at $8.78-1/4 a bushel. Corn took a cue from U.S. crude oil, which hit an 11-month low on worries about weakening global demand, oversupply and sell-offs across other asset classes, including equities. Corn sometimes tracks oil due to its role as the primary U.S. feedstock for ethanol fuel. "The 11-month low in crude is starting to weigh on everything," said Jeff French, analyst with Top Third Ag Marketing in Chicago. The 19-market Thomson Reuters/CoreCommodity Index was down 1.6 percent, hitting its lowest since December. Soybean futures declined but found underlying support after the U.S. Department of Agriculture (USDA) confirmed private sales of 276,732 tonnes of U.S. soybeans to unknown destinations. Also, President Donald Trump's top economic adviser said that the United States welcomed the resumption of talks with China, the world's top soy buyer, on trade. CBOT soft red winter wheat fell more than 2 percent, retreating a day after the December contract reached a three-week high on fund short-covering and optimism about improving export demand for U.S. supplies. "The feeling is (that) as we go deeper into the end of November and early December, we are going to see Russians pull back from their selling," said Don Roose, president of Iowa-based U.S. Commodities. However, Roose added, "When we rally, we become uncompetitive ... so we pull back." Traders were monitoring a cold spell in the U.S. Midwest and Plains that has stalled planting of the last of the winter wheat crop. Ahead of the USDA's weekly crop progress report due later on Tuesday, analysts surveyed by Reuters on average expected the government to report the U.S. winter wheat crop as 90 percent planted, up from 84 percent a week ago. "I think there is real debate on how many acres (were) planted, and also the wheat crop conditions," Roose said. The USDA will release its first official estimate of U.S. winter wheat seedings in January.
CBOT prices as of 12:55 p.m. CST (1655 GMT):
Net Pct Volume Last change change CBOT wheat WZ8 507.00 -12.75 -2.5 75230 CBOT corn CZ8 367.00 -4.25 -1.1 121399 CBOT soybeans SF9 878.50 -4.75 -0.5 59173 CBOT soymeal SMZ8 304.30 -1.30 -0.4 34460 CBOT soyoil BOZ8 27.50 -0.21 -0.8 47495
NOTE: CBOT December wheat and corn and January soybeans shown in cents per bushel, December soymeal in dollars per short ton and December soyoil in cents per lb.
(Additional reporting by Nigel Hunt in London and Colin Packham in Sydney; Editing by Susan Thomas)