SINGAPORE, Dec 13 (Reuters) - Chicago soybean futures lost more ground on Wednesday, with forecast of rains in parts of Brazil's dry oilseed-producing areas easing concerns over dry weather conditions hurting the newly planted crop.
Corn and wheat futures slid.
FUNDAMENTALS
* The most-active soybean contract on the Chicago Board of Trade (CBOT) was down 0.3% at $13.19-3/4 a bushel, as of 0105 GMT. Corn lost 0.3% to $4.84 a bushel and wheat slid 0.4% to $6.23-1/4 a bushel.
* Heat and dryness have hurt crops in northern and central parts of Brazil, but analysts said some forecasts on Tuesday looked wetter than previous outlook.
* Brazil is the world's biggest soybean exporter, and dryness in recent weeks has raised crop concerns and prompted China to book larger volumes from rival supplier - the United States.
* The U.S. Department of Agriculture (USDA), in a daily announcement, confirmed sales of 198,000 metric tons of U.S. soybeans to unknown destinations. It was the fifth consecutive session in which the USDA reported a daily U.S. soy sale to China or unknown destinations.
* France is expected to see a sharp fall in the sowing of winter cereals after heavy rain disrupted field work in the European Union's largest grain producer, the farm ministry said on Tuesday.
* Commodity funds were net buyers of CBOT wheat and corn futures contracts on Tuesday and net sellers of soybean, soyoil and soymeal futures, traders said.
MARKET NEWS
* U.S. stocks advanced Tuesday and the dollar dipped after a report showed sticky U.S. inflation meandering lower as the Federal Reserve convened to assess policy and investors awaited a sign on when to expect interest rate cuts.
DATA/EVENTS (GMT) 0700 UK GDP Est 3M/3M Oct 0700 UK GDP Estimate MM, YY Oct 0700 UK Manufacturing Output MM Oct 1330 US PPI Machine Manufacturing Nov 1900 US Federal Open Market Committee announces its decision on interest rates followed by statement (Reporting by Naveen Thukral; Editing by Sherry Jacob-Phillips)
