BEIJING, Aug 1 (Reuters) - Chicago soybean and corn futures slipped on Thursday to trade near their lowest since 2020, as ample U.S supplies weighed on the market.
Wheat ticked up as rains disrupted harvesting in western Europe and on concerns over weak China demand.
FUNDAMENTALS
* The most-active soybean contract on the Chicago Board of Trade (CBOT) was down 0.12% at $10.23-6/8 a bushel.
* CBOT corn slipped 0.13% to $3.99-2/8 a bushel. Wheat gained 0.43% to $5.30 a bushel.
* The U.S. soybean crush likely slowed in June to 5.538 million short tons, or 184.584 million bushels, analysts surveyed by Reuters estimated ahead of a monthly U.S. Department of Agriculture report on Thursday.
* The U.S. Department of Agriculture confirmed private sales of 104,572 metric tons of U.S. corn to undisclosed destinations for delivery in the 2024/25 marketing year that begins on Sept. 1, 2024.
* Brazil's soy exports are seen reaching 9.76 million tons in July versus 10.43 million tons expected in the previous week, Brazil's grain exporters association Anec said.
* Ukrainian grain traders union UGA cut Ukraine's 2024 combined grain and oilseeds crop forecast by 2.8 million tons to 71.8 million tons due to a heatwave.
* Rainfall across much of Australia has improved the outlook for the country's 2024/25 wheat production but demand for the crop from China could be very weak, analysts and traders said.
* Storms and forecast for more showers could halt the French wheat harvest again after farmers made progress during an early-week hot spell.
* Commodity funds were net sellers of Chicago Board of Trade corn, soybean and soymeal contracts and buyers of soyoil and wheat contracts on Wednesday, traders said
MARKETS NEWS
* MSCI'S global equities index registered its biggest daily gain in over five months on Wednesday and the dollar slightly pared losses after the U.S. Federal Reserve held interest rates steady but opened the door to rate cuts as soon as September.
(Reporting by Mei Mei Chu; Editing by Subhranshu Sahu)
