* Corn, soy, wheat ease on food price inflation fears
* Stronger U.S. dollar also pressures prices
* Dry weather in parts of U.S. Midwest lend support
(New throughout, updates prices, market activity and comments
to close, adds detail about U.S. dollar value, inflation)
CHICAGO, June 3 (Reuters) - Chicago soybean and corn futures
eased on Thursday, pressured by a firming dollar and fears of
food price inflation, though concerns of hot, dry weather in
growing areas offered support, traders said.
The most-active soybean contract on the Chicago Board of
Trade fell 13-1/4 cents to $15.49-1/4 per bushel, while
new-crop November soybeans dipped 10-1/4 cents to
CBOT's most-active corn ended 13 cents lower at $6.62
per bushel, while new-crop December corn eased 6-1/4 cents
CBOT wheat eased 10-3/4 cents to $6.76-1/4 per bushel.
The U.S. Dollar climbed 0.65% on Thursday on reports
that May saw a jump in the number of newly-employed Americans,
according to payroll company ADP, while the United
Nations' Food and Agriculture Organization said world food
prices climbed to their highest level since September
While inflationary pressures could soften grain markets,
weather remains the focus in the coming weeks, according to Mike
Zuzolo, president of Global Commodity Analytics.
"Those demand issues and inflation issues mean a lot less if
we cant get the rains were expected to get in the next 10
days," said Zuzolo.
Hot and dry weather in parts of the U.S. Midwest caused
concern for newly planted corn and soybean crops, though it
remains early in the growing season.
"Were drifting, looking for overall direction. We have a
very well-rated corn crop and likely a very good bean crop,"
said Ted Seifried, vice president of Zaner Group.
Slower soybean planting progress is also supporting the
market, Seifried said, as analysts await the U.S. Department of
Agriculture's June 30 acreage report.
"Were not ripping in these beans quite as fast as we put in
the corn," he said.
Global corn and soybean stocks are in focus as Brazil
struggles with its worst water crisis in nearly a century,
impacting crops and river navigation in the world's largest
exporter of commodities.
"I think the reality of the tightness in the bean market has
come back into play, and beans had a little catching up to do. I
think theyre well supported," said Chuck Shelby, president of
Risk Management Commodities.
Wheat followed corn lower, though dryness and above-average
temperatures across the U.S. Plains offered support.
In Russia, Deputy Prime Minister Victoria Abramchenko told
Reuters that the country's new formula-based grain export taxes
would remain in place as long as there is increased global
demand for food.
(Reporting by Christopher Walljasper; additional reporting by
Naveen Thukral; Editing by David Gregorio)