* Corn falls as U.S. farmers complete 83% of planting * Wheat drops for 2 out of 3 sessions, soybeans lower (Adds details, quotes) By Naveen Thukral SINGAPORE, June 11 (Reuters) - Chicago corn futures lost ground on Tuesday as U.S. farmers made progress in seeding the crop, although concerns over lower yields from late-planted crop limited losses. Wheat slid, falling for two of three sessions on improved conditions of the U.S. spring wheat, while soybeans fell after closing higher on Monday. The most-active corn contract on the Chicago Board of Trade was down 0.5% at $4.13-1/2 a bushel by 0245 GMT, having closed the previous session unchanged. Wheat lost 0.8% to $5.03-1/2 a bushel and soybeans were down 0.5% at $8.54-1/4 a bushel, having firmed 0.3% on Monday. "U.S. farmers might just be able to finish planting if the weather holds up," said one Singapore-based feed grains trader. "It is probably not going to be a disaster that the market was expecting but yields are going to suffer." The USDA in its weekly crop report said corn planting was 83% complete, up from 67% a week ago and matching analyst expectations. The agency rated 59% of the crop as good-to-excellent, ahead of market expectations. The U.S. Crop Watch producers report that a lot of progress was made on planting last week as most areas finally got a favourable stretch of dry weather. Although much of the corn was planted a lot later than usual due to the overly wet spring, the producers say that their corn fields are in decent condition. Soybeans, which are usually planted later than corn, were 60% planted, slightly ahead of market forecasts. That was up from 39% a week earlier and below the average for 88%. The USDA is expected to trim its estimates for corn and soybean yields in its monthly supply and demand report due later on Tuesday. However, some traders said the cuts will likely be too small to reflect the full impact of late planting. The USDA said 81% of the spring wheat crop is in good-to-excellent condition, below last week's 83% but above 70% a year ago. The agency is looking into ways to allow farmers who have been unable to plant crops due to rains and waterlogged fields to qualify for farm aid payments, Agriculture Secretary Sonny Perdue said on Monday. Commodity funds were net buyers of CBOT corn, soybean, soymeal, soyoil and wheat futures contracts on Monday, traders said. Grains prices at 0245 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 503.50 -4.00 -0.79% -1.27% 468.54 55 CBOT corn 413.50 -2.25 -0.54% -1.66% 389.30 51 CBOT soy 854.25 -4.25 -0.50% -1.67% 844.38 46 CBOT rice 11.73 -$0.04 -0.38% -0.09% $11.21 67 WTI crude 53.47 $0.21 +0.39% -0.96% $59.16 Currencies Euro/dlr $1.131 -$0.002 -0.18% +0.33% USD/AUD 0.6956 -0.004 -0.60% -0.29% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Naveen Thukral; editing by Uttaresh.V)
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