(Updates with U.S. trading, updates headline, byline)
By Renee Hickman
CHICAGO, March 31 (Reuters) - Chicago soybean futures
fell on Monday as old crop stock estimates in a U.S. Department
of Agriculture data release were larger than expected, according
to analysts.
Corn futures rose as U.S. stocks were seen close to trade
estimates in the release, and wheat rose on lower than expected
acreage, analysts said.
Chicago Board of Trade's most-active soybeans fell 5
cents to $10.18 a bushel at 11:16 CST (1618 GMT). Most-active
corn rose 5 cents to $4.58-1/4. Wheat rose 6-1/2 cents to
$5.34-3/4 a bushel.
The U.S. Department of Agriculture released its estimates of
prospective plantings and quarterly grain stocks on Monday,
with analysts polled by Reuters expecting an increase in U.S.
corn and wheat plantings but a reduction in soybean sowings.
Soybean acreage numbers were close to expectations, but
stocks were higher than expected, pressuring futures, said Don
Roose, president of U.S. Commodities.
"We still have big supplies of soybeans domestically, with
competition from South America going on," he said.
Corn planting numbers came in higher than trade estimates
but U.S. corn stocks were estimated at the same level as the
expectations, adding some support, said Roose.
Meanwhile, wheat firmed on lower acreage than the trade
outlook, said Roose, but it continued to hover near contract
lows reached Friday.
"It's a market that had dialed in negative news," said
Roose.
Wheat received some pressure however, from rains forecast
this week in parts of the U.S. and Russian wheat belts as well
as expectations of smoother exports from Russia and Ukraine due
to the U.S.-backed ceasefire deal, analysts said.
Corn, soybeans and wheat also continued to feel pressure
from the looming start date for a swath of tariffs on goods
imported into the U.S., which the administration of President
Donald Trump has said are set to take effect on April 2.