* USDA trims corn crop rating to 71% good/excellent * Soybeans ease after USDA raises crop rating * Wheat steadies as USDA cuts spring wheat rating * Market eyes Aug. 12 USDA supply-demand forecasts (Updates with European trading, changes byline/dateline) By Gus Trompiz and Naveen Thukral PARIS/SYDNEY, Aug 11 (Reuters) - Chicago corn futures rose on Tuesday to a one-week high after the U.S. Department of Agriculture trimmed its rating of crop conditions, rekindling concern about dryness in parts of the Midwest. Wheat futures also edged higher, with a sharp cut to the USDA's rating of spring wheat crops encouraging the market to steady after a one-month low on Monday. Soybeans, however, slipped after the USDA raised its score for developing U.S. soy crops. Price movements were modest as all crops consolidated following multi-week lows in the past few days and ahead of Wednesday's August supply and demand report from the USDA. The most active corn futures on the Chicago Board Of Trade were up 0.7% at $3.25-1/4 a bushel by 1042 GMT, after earlier reaching their highest since Aug. 4 at $3.26-1/4. After the market close on Monday, the USDA said in a weekly report that 71% of the U.S. corn crop was good to excellent, down 1 point from a week ago and below an average of trade expectations. But analysts said the decline was not yet sufficient overturn expectations of a bumper harvest, despite some lingering dry spots in the U.S. Midwest. "Down just a percentage point from last week, the drop is probably not enough to lift the gloom in the corn market," Tobin Gorey, director of agriculture at the Commonwealth Bank of Australia, said. CBOT wheat were up 0.7% at $4.94-1/4 a bushel, while soybeans were down 0.2% at $8.71-1/2 a bushel. The USDA's soybean rating gained 1 point to 74% good to excellent, bucking trade expectations for a 1-point decline, while the spring wheat score lost 4 points to 69%, contrary to an average trade expectation for a stable score. The wheat market was also awaiting the outcome of a tender being held by top importer Egypt for an update on export competition. Prices at 1042 GMT Last Change Pct End Ytd Pct Move 2019 Move CBOT wheat 494.25 3.25 0.66 558.75 -11.54 CBOT corn 325.25 2.25 0.70 387.75 -16.12 CBOT soy 871.50 -1.75 -0.20 955.50 -8.79 Paris wheat December 178.25 0.75 0.42 188.75 -5.56 Paris maize Nov 163.25 -0.25 -0.15 174.75 -6.58 Paris rape Nov 374.00 -1.00 -0.27 391.50 -4.47 WTI crude oil 42.59 0.65 1.55 61.06 -30.25 Euro/dlr 1.18 0.01 0.53 1.1210 5.25 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne (Reporting by Gus Trompiz in Paris and Colin Packham in Sydney; Editing by Aditya Soni and Louise Heavens)
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GRAINS-Corn, wheat firm after USDA trims crop ratings; soy ticks down - Successful Farming
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