(Recasts with European trade, adds comment, changes dateline)
Soybean futures stable after Mondays U.S. sales to China
* Good picture for U.S. crops weakens corn, wheat (.)
By Michael Hogan
HAMBURG, Sept 24 (Reuters) - Chicago soybean futures were steady on Tuesday with support from news of U.S. export sales to China, while a positive U.S. crop conditions report weakened corn and wheat.
Rain in west and east Europe also provided a good basis for wheat and corn harvests next summer.
Chicago Board of Trade (CBOT) most-active soybeans were up 0.1% at $8.93-1/4 a bushel at 1109 GMT.
Corn fell 0.7% to $3.70-1/2 a bushel and wheat dropped 0.9% to $4.78-1/4 a bushel.
"Soybeans remain supported by the latest U.S. export sales to China while the U.S. crop conditions report on Monday and EU/Black Sea rainfall prospects drew a slightly improved picture of corn and wheat prospects which is weakening CBOT prices today, said Michael Magdovitz, senior agriculture commodities analyst at Rabobank.
Soybeans rose on Monday on news U.S. exporters had made hefty sales of around 600,000 tonnes of soybeans to China along with rising concerns that rains in the U.S. Midwest could lower crop quality just before harvest.
The weekly crop progress report from the U.S. Department of Agriculture (USDA) after the market close on Monday said 57% of U.S. corn crops were in good-to-excellent condition, up from 55% last week and market expectations also of 55%.
"The USDA's assessment of the state of U.S. corn was considerably better than market expectations and with a firm improvement on last week," Magdovitz said.
U.S. crop conditions were better than expected, brokerage Allendale said in a note. Traders remained optimistic a trade deal could still be done by the United States with China, Allendale added.
The USDA said 22% of U.S. winter wheat had been planted, up sharply from 8% last week and above expectations of 18%.
Some 87% of U.S. spring wheat was harvested, up from 76% last week and above market expectations of 83%.
"U.S. spring wheat harvesting and winter wheat plantings accelerated slightly faster than market expectations," Magdovitz said. "A very good advance was achieved in winter wheat plantings which again illustrates the ability of farmers to make rapid field progress. The spring wheat harvest is not yet over, and weather risks remain, but progress is being made."
"Meanwhile widespread rain west Europe and even parts of the Black Sea region will be positive for winter wheat plantings and spring crop maturity, raising the question of whether larger supplies are on the horizon," Magdovitz said.
(Reporting by Michael Hogan; Additional reporting by Naveen Thukral; Editing by Edmund Blair)