SINGAPORE, June 24 (Reuters) - Chicago corn futures lost more ground on Wednesday, with prices under pressure from improved crop weather across the U.S. Midwest.
Wheat ticked higher while soybeans were little changed.
* The most active corn futures on the Chicago Board of Trade slid 0.2% to $3.24-1/2 a bushel, as of 0007 GMT, wheat added 0.2% to $4.92 a bushel and soybeans were flat at $8.75 a bushel.
* Selling in corn and soybeans is being fuelled by recent U.S. crop-boosting rains and expectations that a high-pressure ridge forecast to bring crop-stressing heat next week could be short-lived.
* The USDA rated 72% of the U.S. corn crop in good to excellent condition in its weekly crop progress report, up 1 percentage point from a week ago. Analysts polled by Reuters had expected a slight decline.
* China’s soybean buyers are asking exporters to sign a letter guaranteeing their cargoes are not contaminated with the novel coronavirus, U.S., Brazilian and Canadian soy industry officials said on Tuesday.
* Commodity funds were net sellers of CBOT corn, soybean, soymeal and soyoil futures contracts on Tuesday and net buyers of wheat, traders said.
* Asian stocks were expected to come under pressure on Wednesday, as a spike in new coronavirus infections weighed on sentiment, although U.S. assurances that the China trade deal was intact and upbeat economic data provided some reasons for optimism.
DATA/EVENTS (GMT, June) 0645 France Business Climate Mfg 0800 Germany Ifo Business Climate New 0800 Germany Ifo Curr Conditions New 0800 Germany Ifo Expectations New 1300 Federal Economy Minister gives a news conference on Germany’s economic situation and its position as a business location in international competition (Reporting by Naveen Thukral; editing by Uttaresh.V)