GRAINS-Soybeans rebound on Brazilian crop woes, wheat up for third session

    * Soybeans rise as agribusiness consultancy cuts Brazilian crop outlook
    * Concerns over U.S.-China trade woes cap gains on soybean prices
    * Wheat climbs on hopes of higher demand for U.S. supplies

 (Adds details, quote)
    By Naveen Thukral
    Feb 12 (Reuters) - U.S. soybean futures gained on Tuesday, rebounding from a three-week low
touched in the previous session, as concerns over dry weather curbing yields in top exporter Brazil
supported the market.
    Wheat rose for a third consecutive session as the market underpinned expectations of strong
demand for U.S. supplies.
    The most-active soybean contract on the Chicago Board Of Trade was up 0.3 percent at $9.08
a bushel, as of 0349 GMT. In the previous session, it lost 1 percent when prices hit $9.03-1/2 a
bushel, their lowest since Jan. 22.
    Wheat climbed 0.1 percent to $5.19 a bushel, having closed 0.2 percent higher on Monday,
while corn gained 0.4 percent to $3.74-1/4 a bushel, after closing 0.4 percent lower in the
previous session.
    "For soybeans the main worry is about the Brazilian crop as it is too early to talk about U.S.
planting," said a Singapore-based trader. "U.S. wheat exports are picking up and we see strong
demand for U.S. wheat until June."
    Brazil's 2018/19 soybean crop estimate was cut by almost 4.5 million tonnes, agribusiness
consultancy AgRural said on Monday, as it cited unfavourable climate conditions in key producing
    AgRural now predicts Brazil's output at 112.5 million tonnes this season, down from a forecast
116.9 million tonnes last month, due to hot and dry conditions in soybean fields.
    Negotiators from the United States and China, the world's top soybean buyer, are trying to
hammer out a trade deal before a March 1 deadline, when U.S. tariffs on $200 billion worth of
Chinese imports are scheduled to increase to 25 percent from 10 percent.
    Last week, the USDA lowered estimates of U.S. 2018 corn yield and production, but raised
forecasts of 2018-19 U.S. and global corn ending stocks more than most analysts had expected. 
    The agency also raised its estimate of Argentina's corn harvest to 46 million tonnes, from 42.5
million tonnes previously.
    Chicago wheat futures are finding support in higher demand for U.S. wheat as supplies tighten in
the Black Sea region and Australia suffers from a second year of drought.

 Grains prices at 0349 GMT
 Contract    Last    Change   Pct chg  Two-day chg  MA 30   RSI
 CBOT wheat  519.00  0.75     +0.14%   +1.12%       517.33  49
 CBOT corn   374.25  1.50     +0.40%   -0.60%       378.21  40
 CBOT soy    908.00  3.00     +0.33%   -0.57%       912.98  39
 CBOT rice   10.29   $0.02    +0.19%   -2.00%       $10.59  28
 WTI crude   52.79   $0.38    +0.73%   +0.13%       $51.87  
 Euro/dlr    $1.128  -$0.005  -0.43%   -0.54%               
 USD/AUD     0.7078  -0.001   -0.14%   -0.30%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per
 RSI 14, exponential

 (Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)