PARIS/SINGAPORE - Chicago corn, wheat ⁠and soybean futures eased on Tuesday to hold near multi-month lows, as improved U.S. ‌crop ratings kept attention on favourable Midwest weather, underscoring the prospect of ample global supply.

Three-month lows for crude oil, ​following the announcement of an outline deal to end the Iran war, also weighed, though traders were watching ​to see ​if price weakness could spur more demand from grain importers. The U.S. Department of Agriculture rated 68% of the nation's corn and 66% of soybeans in good-to-excellent condition, each ⁠up one percentage point from a week earlier. Spring wheat was rated 55% good-to-excellent, up three percentage points from last week.

Ratings for the drought-affected winter wheat crop remained near historical lows, but the weekly score rose while harvest progress was faster than anticipated by analysts. Widespread rain and warm ​weather have benefitted ‌crops across the central ⁠United States in ⁠the past week, reinforcing market expectations of adequate global supply of major crops. "Grain seasonals are bearish, recent ​fund selling points towards more downside, and U.S. weather forecasts look ‌great," Peak Trading Research said in a note. The most-active soybean ⁠contract on the Chicago Board of Trade (CBOT) (Sv1) fell 0.8% to $11.10 a bushel by 1004 GMT, CBOT corn lost 0.5% to $4.13-1/2 a bushel and CBOT wheat ticked down 0.3% to $5.88-1/4 a bushel.

On Monday, corn hit a nine-month low, soybeans a four-month low and wheat a two-month low, before all three crops ended higher. After financial investors sharply reduced long positions since last month, traders were watching to see if the markets could find a footing pending further direction from Northern Hemisphere wheat harvesting and U.S. planting data at the end of the month.

Algeria ‌has issued a tender to buy wheat for August shipment, traders said ⁠on Monday. In the U.S., the National Oilseed Processors Association ​said its members crushed 208.785 million bushels of soybeans in May, down 1.4% from April and below nearly all trade estimates.

Prices at 1004 GMT Last Change Pct Move CBOT wheat 588.25 -1.50 -0.25 CBOT corn 413.50 -2.00 -0.48 CBOT soy 1110.00 -9.25 -0.83 Paris wheat 201.25 1.50 0.75 Paris maize 210.75 1.25 0.60 Paris rapeseed 508.50 -4.75 -0.93 WTI crude ​oil 79.02 -1.73 -2.14 Euro/dollar 1.16 0.00 0.09 Most active contracts - ‌Wheat, corn and soy U.S. cents/bushel, Paris futures in euros per metric ⁠ton.