GRAINS-Corn, wheat ease as crop weather weighed, soy steady on trade hopes

Gus Trompiz and Naveen Thukral

* Corn pressured by U.S. yield upgrades

* Wheat gives up Friday gains

* Soybeans up for third session

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Nov 4 (Reuters) - Chicago corn futures eased for a second session on Monday after leading analysts raised their forecasts for U.S. harvest yields, countering support from adverse harvest weather. Chicago wheat also edged lower, curbed by technical resistance after a rally on Friday and news of weekend rain relief in drought-hit eastern Australia. Soybeans ticked up as the oilseed market remained underpinned by growing hopes of a trade deal between Washington and Beijing. Price movements were limited as grain markets awaited further indications on production prospects from weekly U.S. Department of Agriculture (USDA) crop data on Monday and then the USDA's monthly world supply-and-demand outlook on Friday. The most-active corn contract on the Chicago Board Of Trade was down 1.0% at $3.85-1/2 a bushel by 1254 GMT. CBOT wheat was 0.8% lower at $5.12 a bushel while soybeans were up a quarter of a cent at $9.37 a bushel. "Traders will continue to focus on weather maps and any indication on what the USDA will show on this Friday's WASDE report," brokerage Allendale said in a note, referring to the USDA's World Agricultural Supply and Demand Estimates. Commodity brokerage INTL FCStone and analytics firm IEG Vantage both increased their projection for the average U.S. corn yield in 2019 in separate publications on Friday.

This year's U.S. corn crop is seen as particularly hard to call due to exceptionally late planting and more recently harsh autumn weather that has hampered harvest work in the U.S. grain belt's northern tier. The U.S. soybean harvest is also seen as uncertain, but the oilseed market has been more focused on chances for the resolution of a U.S.-Chinese trade dispute that has reduced massive soybean flows between the two countries. Private exporters reported the sale of 132,000 tonnes of U.S. soybeans to China on Friday, the latest in a string of purchases that China has booked during talks to end the year-old standoff. U.S. Commerce Secretary Wilbur Ross also said on Friday morning that the Phase 1 trade agreement with China appeared to be "in good shape" and likely to be signed in mid-November.

However, renewed demand from China could be limited by the impact of African swine fever that has decimated pig herds in China and elsewhere in Asia, cutting consumption of livestock feed such as soymeal. On the wheat market, traders were assessing chances that heavy rain in eastern Australia over the weekend may bring late help to parched wheat fields in the run-up to harvesting.

Prices at 1254 GMT

Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 512.00 -4.00 -0.78 503.25 1.74CBOT corn 385.50 -3.75 -0.96 375.00 2.80CBOT soy 937.00 0.25 0.03 895.00 4.69Paris wheat Dec 177.25 -0.75 -0.42 191.25 -7.32Paris maize Nov 154.00 -7.00 -4.35 175.25 -12.13Paris rape Feb 384.00 1.75 0.46 366.00 4.92WTI crude oil 56.89 0.69 1.23 45.41 25.28Euro/dlr 1.12 0.00 -0.09 1.1469 -2.74

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

(Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Uttaresh.V and Edmund Blair)