* CBOT soybeans down for four of five sessions
* Brazil rain forecasts weigh on soy futures
* Wheat rises from one-month low below $6 a bushel
CHICAGO, Jan 4 (Reuters) - Chicago Board of Trade soybean futures eased on Thursday as the market remained under pressure from rains in dry areas of Brazil and expectations for more beneficial showers.
CBOT wheat futures rebounded after falling earlier to a one-month low below $6 a bushel, while corn recovered from a contract low reached on Wednesday.
The most-active March soybean contract traded at its lowest price since June, as improved Brazilian weather eased concerns about crop losses in the world's biggest soybean exporter. Crop losses in Brazil could shift demand to the U.S. as the countries compete for export sales on the world market.
"Improving Brazil conditions have been weighing on prices all week, and the recent rains for the dry areas should temper any additional yield damage," said Terry Reilly, senior agricultural strategist for Marex.
CBOT March soybean futures were down 6-1/2 cents at 12.70-1/2 a bushel as of 10:15 a.m. CST (1615 GMT). The contract earlier fell to its lowest price since June 28.
March wheat was up 4-3/4 cents at $6.05 after earlier sinking to its lowest price since Dec. 1. March corn rose 3-1/4 cents to $4.68-1/2 a bushel.
"Soybeans appear to be in limbo as Brazil's weather has improved and the market knows they will get a crop to export," said Nick Paumen, commodity broker for CHS Hedging. "We just don't know how much."
Traders are waiting for the U.S. Department of Agriculture to issue quarterly U.S. grain stocks data and monthly agricultural supply/demand reports on Jan. 12.
On Friday, the USDA will issue weekly U.S. grain and soybean export sales data, a day later than usual due to the New Year's Day holiday on Monday. (Reporting by Tom Polansek in Chicago. Additional reporting by Naveen Thukral in Singapore and Sybille de La Hamaide in Paris; Editing by Sherry Jacob-Phillips and Barbara Lewis)
