* Soybeans extend gains on strong demand for U.S. cargoes
    * Wheat holds near last session's 6-week high, corn steady

 (Adds details, quotes)
    By Naveen Thukral
    SINGAPORE, June 7 Chicago soybeans rose for a
second session on Tuesday as the market was underpinned by
importers locking in U.S. cargoes in the face of tight South
American supplies following adverse weather.
    Wheat was little changed, trading near last session's
six-week high on concerns over adverse weather threatening
European production.
    "We are seeing pretty bullish moves in soybeans as U.S.
old-crop stocks are tightening and importers are rushing to
cover supplies," said Kaname Gokon at brokerage Okato Shoji in
Tokyo.
    "Even for the near U.S. crop, we have seen strong demand."
    Chicago Board of trade most-active soybean contract 
gained 0.5 percent to $11.43-1/2 a bushel by 0301 GMT, while
corn was unchanged at $4.27-1/4 a bushel.
    Wheat was flat at $5.07-1/2 a bushel.
    Chicago wheat rallied to its highest since April 21 on
Monday on concerns over adverse weather hitting European
production.
    The condition of cereal crops in France has worsened, farm
office FranceAgriMer said on Friday, in a sign that heavy rain
is affecting crops in the European Union's largest grain
producer. 
    France's farm ministry on Monday said wet weather had
favoured disease development in rapeseed crops and that other
winter crops may see yields suffer in the European Union's
largest grain producer.
    Expectations of lower supplies from Argentina continue to
support the soybean market.
    A U.S. Department of Agriculture report last week showed
strong demand for new-crop supplies that will be delivered in
the fall. 
    U.S. farmers have nearly completed planting corn, the USDA
said after the market closed on Monday. It said 75 percent of
the crop is in good-to-excellent condition as compared with 72
percent a week ago.
    The pace of planting soybeans is running ahead of average, 
the agency said, adding that 72 percent of the crop is in
good-to-excellent condition as compared with 69 percent at this
time of last year. 
    Brazil, the world's second-largest corn exporter, continues
to face tight supplies, boosting demand for U.S. supplies on the
export market.
    The U.S. Department of Agriculture on Monday morning
reported weekly corn export inspections of 1.068 million tonnes,
up from 786,507 tonnes last week and near the high-end of market
forecasts.
    Commodity funds were net buyers of CBOT soybean, corn and
wheat futures contracts on Monday.
    Traders estimated that funds bought a net 15,000 of corn
contracts. Estimates of fund buying in soybeans ranged from
6,000 to 14,000 contracts. For wheat, estimates ranged from
5,000 to 7,000.

 Grains prices at  0301 GMT
 Contract    Last     Change  Pct chg  Two-day chg  MA 30    RSI
 CBOT wheat  507.50   0.00    +0.00%   +2.06%       476.18   73
 CBOT corn   427.25   0.00    +0.00%   +2.15%       395.48   76
 CBOT soy    1143.50  5.25    +0.46%   +1.02%       1068.68  74
 CBOT rice   11.69    -$0.02  -0.13%   +2.81%       $11.44   63
 WTI crude   49.46    -$0.23  -0.46%   +1.73%       $47.00   61
 Currencies                                                  
 Euro/dlr    $1.135   $0.000  +0.00%   -0.12%                
 USD/AUD     0.7363   0.000   -0.04%   -0.01%                
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per
 hundredweight
 RSI 14, exponential
    

 (Reporting by Naveen Thukral; Editing by Joseph Radford and
Anupama Dwivedi)