Grain Markets

(Adds analyst comment and updated prices; changes byline, dateline, previous LONDON) * Drought conditions ease in U.S. Plains, rains in Midwest * Wheat heading for largest monthly decline since Sept 2011 * Soybeans boosted by tight old crop supplies in the U.S. By Michael Hirtzer CHICAGO, May 29 (Reuters) – U.S. grains slumped on Thursday,

May 29 (Reuters) – Basis bids for corn shipped by barge to the U.S. Gulf Coast rose to the highest level in two weeks on Thursday, lifted by seasonally light farmer offerings and the lowest futures in roughly three months, traders said.

* Soybeans extend gains into second session * Wheat firms for first time in seven sessions By Colin Packham SYDNEY, May 29 (Reuters) – Chicago soybeans rose on Thursday, extending gains into a second session, as fresh orders from China added to concerns about U.S. supplies that have already been depleted by heavy exports. Wheat

May 28 (Reuters) – Basis bids for corn and soft red winter wheat shipped by barge to the U.S. Gulf Coast were slightly higher early on Wednesday as the lowest futures in about three months kept farmer offerings of the crops to a minimum, traders said.

SYDNEY, May 28 (Reuters) – U.S. wheat hit a near three-month low on Wednesday, with farmers planting the spring crop faster than expected due to favourable weather. FUNDAMENTALS * Chicago Board of Trade July wheat dropped 0.39 percent to $6.38-1/2 a bushel, just shy of the session low of $6.37-1/4 – the weakest since March

May 27 (Reuters) – Basis bids for soft red winter wheat shipped by barge to the U.S. Gulf Coast fell early on Tuesday as nearby values narrowed their premium over deferred bids on the approaching harvest, traders said.

SYDNEY, May 27 (Reuters) – U.S. wheat futures fell as much as 1.5 percent on Tuesday to a two-month low, as heavy rains across the southern plains provided much needed moisture to crops that have wilted under dry weather in recent weeks. FUNDAMENTALS * Chicago Board Of Trade July wheat fell 1 percent to $6.46-1/4

* Traders square positions with markets closed Monday

* Wheat falls 9 pct in two weeks on supply pressures

SYDNEY, May 23 (Reuters) – U.S. soybeans futures were little changed on Friday, but the oilseed was poised to rise more than 3.5 percent for the week, the biggest rally in five weeks, supported by concerns over tight domestic supplies. FUNDAMENTALS * Chicago Board Of Trade July soybeans up 3.6 percent for the week. July