Argentina

GRAINS-Soybeans steady after fall as Argentina rain assessed

* Soybeans breaks 2-session slide, corn also steady * Argentine rain monitored for any excess moisture * Dollar rise curbs U.S. grain futures * Wheat slips for third session (Updates with European trading, changes byline/dateline) By Gus Trompiz and Naveen Thukral PARIS/SINGAPORE, Feb 21 (Reuters) – Chicago soybean futures edged higher on Tuesday after a two-session slide, with heavy rain in major exporter Argentina bringing weather risks back into focus. Gains were limited by overall expectations for large soybean harvests in Argentina and Brazil, as well as a sharp rise in the dollar that makes U.S. grains more expensive overseas. Chicago corn inched higher like soybeans but wheat eased for a third consecutive session. Both cereals were consolidating below multi-month highs set last week during rallies fuelled by investment fund covering that analysts said were at odds with large global inventories. Chicago markets were resuming trading after a three-day weekend including Monday’s U.S. Presidents Day holiday. The Chicago Board Of Trade most-active soybean contract was up 0.5 percent at $10.37-3/4 a bushel by 1249 GMT, recovering from a near two-week low of $10.31 touched on Friday. CBOT corn added 0.3 percent to $3.69-1/4 a bushel, and wheat fell 0.3 percent to $4.39-1/2 a bushel. Heavy rains over the weekend soaked some soybean crops in Argentina. Local weather analysts said the moisture was probably beneficial for soy and corn crops, but the grain markets are…

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