* Crop tour expects sharply lower yields for U.S. spring
* Forecasts of cooler weather next week for corn, soybeans
SINGAPORE, July 29 (Reuters) - Chicago wheat futures rose
for a second straight session on Thursday, underpinned by a
severe drought curbing yields of top quality U.S. spring wheat.
Corn and soybean futures edged lower.
"Dry weather is curbing U.S. spring wheat and that is
supporting wheat prices globally including Australia where the
market has climbed," one Sydney-based grains broker said.
The most-active wheat contract on the Chicago Board of Trade
(CBOT) was up 0.7% at $6.93-1/2 a bushel, as of 0238 GMT,
adding to Wednesday's 2.1% rally.
Corn lost 0.2% to $5.47-3/4 and soybeans slid
0.2% to $13.58-1/4 a bushel.
Spring wheat yields across the northwest quarter of North
Dakota are well below average this year as severe heat and long
stretches of dry weather sapped crop potential, scouts on an
annual tour of the country's top producing state said on
The tour estimated the average yield at 24.6 bushels per
acre (bpa) on the second day of the three-day Wheat Quality
Council tour, down from 40.8 bpa in 2019 and the five-year
average of 42.4 bpa. The tour was cancelled last year because of
the coronavirus pandemic.
The drought extends into South Dakota and Montana as well as
portions of Canada.
Dry conditions affecting portions of the Midwest crop belt
have lent support to corn and soybeans although forecasts for
cooler temperatures next week and sluggish export demand for
U.S. supplies are likely to keep a lid on prices.
In Brazil, freezing temperatures on Wednesday and Thursday
will hit crops like corn and wheat, according to a warning
issued to farmers by the government's food supply and statistics
In Sao Paulo and Parana states, there is the risk of
moderate and severe frosts and this could affect second corn
that is in the grain-filling stage, as well as wheat that is in
the flowering stage, Conab said late on Tuesday. Second corn is
planted after soybeans are harvested in the same fields.
Corn and wheat in Mato Grosso do Sul could also be hit by
frosts, though in fewer areas, Conab said.
Commodity funds were net buyers of CBOT wheat, soybean, corn
and soyoil futures contracts on Wednesday, and net sellers of
soymeal futures, traders said.
(Reporting by Naveen Thukral; Editing by Subhranshu Sahu and