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GRAINS-Corn up for 3rd session on U.S. weather concerns, wheat dips

the intensifying U.S.-China trade war.

* Corn gains ground as adverse weather threatens U.S. yields

* Wheat eases after 2-session rally, harvest pressure weighs

(Adds comment, detail) SINGAPORE, Aug 6 (Reuters) - Chicago corn prices rose for a third session on Tuesday, underpinned by concerns over forecasts of adverse crop weather in parts of the U.S. Midwest that could potentially curb yields. Wheat slid for the first time in three sessions on harvest pressure, while soybeans edged higher although gains were capped The most-active corn contract on the Chicago Board of Trade had added 0.2% to $4.15-1/2 a bushel by 0252 GMT, having gained 1.3% in the previous session. Wheat lost 0.2% to $4.93-3/4 a bushel and soybeans were up 0.2% at $8.70-1/2 a bushel. The U.S. Department of Agriculture in a weekly crop update said 57% of the U.S. corn was in good-to-excellent condition, matching analyst expectations but below last year's rating of 71% at this time of year. Forecasts of cooler and wetter conditions across the U.S. Midwest raised new concerns about how much of the current crop might be lost - as well as how much corn and soybean yields might be hit by the stress of excess moisture. "Chicago December corn has returned to a price level where it has about a 50 cents gain from U.S. planting delays," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. "U.S. Midwest weather is turning against the current crop." The USDA said 73% of the U.S. wheat crop is in good-to-excellent condition, ahead of analyst forecasts. It said 54% of the U.S. soybean crop is in good-to-excellent condition, slightly ahead of market forecasts. The soybean market is facing pressure from renewed trade tensions between Washington and Beijing. China's Commerce Ministry said that Chinese companies have stopped buying U.S. agricultural products, and that it will not rule out imposing import tariffs on U.S. farm products that were purchased after Aug. 3. U.S. President Donald Trump last week said he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, citing insufficient progress in trade talks between the world's two largest economies. Commodity funds were net buyers of CBOT corn, wheat and soymeal futures contracts on Monday, and net sellers of soybean and soyoil futures contracts, traders said.

Grains prices at 0252 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 493.75 -0.75 -0.15% +0.61% 506.49 46CBOT corn 415.50 0.75 +0.18% +1.47% 432.48 41CBOT soy 870.50 1.75 +0.20% +0.23% 902.33 32CBOT rice 11.41 -$0.03 -0.22% -2.56% $11.78 27WTI crude 55.08 $0.39 +0.71% -1.04% $57.35


Euro/dlr $1.123 $0.003 +0.24% +1.10%USD/AUD 0.6785 0.003 +0.43% -0.21%

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)