* US farmers sell freshly harvested soy
* Soy harvest is 76% complete, USDA says
* CBOT wheat rises on bargain buying
CHICAGO, Oct 23 (Reuters) - Chicago Board of Trade soybean futures finished lower on Monday as advancing U.S. harvests uncovered strong yields and increased farmers' sales of their crops, analysts said.
Pressure from harvests also hung over corn futures.
U.S. farmers have
finished harvesting
76% of the country's soybeans and 59% of the corn crop, the U.S. Department of Agriculture said in a weekly report issued after trading ended. Analysts were
expecting
the soybean harvest to be 77% complete and the corn crop to be 59% harvested.
"We continue to hear better-than-expected yields, for soybeans in particular," said Brian Basting, commodity research analyst at Advance Trading.
The most active soybean contract ended down 15-1/2 cents at $12.86-3/4 a bushel, after pulling back from a one-month peak on Friday. Corn, which on Friday rose to a 2-1/2-month top before closing lower, closed down 5-1/4 cents at $4.90-1/4 a bushel.
Farmers are tending to sell more of their freshly harvested soybeans than corn because of solid yields and prices, adding extra pressure on soybean futures, dealers said.
"U.S. harvest is rolling along with no major issues," Peak Trading Research said in a note.
In Brazil, if expected rains come this week, it will improve prospects for soy farmers who have been sowing their new crop at a slower pace in unusually hot and dry weather, experts said.
Heavy rains in Argentina drenched drought-hit agricultural regions over the weekend, which could benefit wheat crops ahead of harvesting and also boost corn planting.
CBOT wheat settled 1-1/4 cents higher at $5.87-1/4 a bushel on bargain buying and U.S. export demand. A month ago, the market hit a three-year low.
"You've got to get really low to stimulate demand and we've finally seen some of that in the form of Chinese buying," Basting said.
The USDA's weekly report showed U.S. winter wheat planting is 77% complete, compared to analysts' estimates for 79%. (Reporting by Tom Polansek in Chicago. Additional reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Marguerita Choy and Richard Chang)
