GRAINS-Soybeans recoup lost ground, but harvest pressure caps gains

SINGAPORE, Oct 29 (Reuters) - Chicago soybean futures rose for the first time in four sessions on Tuesday with bargain-buying supporting prices, although abundant supplies from the freshly harvest U.S. crop are likely to curb gains.

Corn and wheat futures edged higher.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.3% at $9.88-1/2 a bushel, as of 0005 GMT, corn added 0.1% to $4.11 a bushel and wheat gained 0.4% to $5.60-3/4 a bushel.

* U.S. farmers have been harvesting the record-large 2024 soybean crop and the near-record corn crop at the fastest pace in over a decade, the U.S. Department of Agriculture's weekly crop progress report showed on Monday.

* The USDA pegged the soybean harvest at 89% complete, as of Sunday, slightly below analyst expectations of 91%, while the corn harvest is 81% finished, above analyst expectations of 80%.

* Brazil's soybean planting for the 2024/25 season had reached 36% of the total expected area, as of Oct. 24, agribusiness consultancy AgRural said on Monday, up 18 percentage points from the previous week as weather conditions improved.

* In wheat market, increased showers for the U.S. hard red winter wheat belt are expected to reduce dryness for the grain in the next 10 days and coming weeks, according to Commodity Weather Group.

* Russian wheat prices dropped as weather in producing regions became more favourable, according to local consultancies.

* The price of 12.5% protein Russian wheat, scheduled free-on-board (FOB) for delivery in November, was $232 per metric ton at the end of last week, a drop of $2, said Dmitry Rylko, head of the IKAR consultancy.

* Commodity funds were net sellers of CBOT corn, wheat, soybeans, soyoil and soymeal futures contracts on Monday, traders said.

MARKET NEWS

* Global stock indexes rose on Monday as investors awaited earnings reports this week from several of the biggest U.S. tech-related companies, while oil prices dropped 6% after Israel's retaliatory strike against Iran at the weekend bypassed oil and nuclear facilities.

DATA/EVENTS (GMT) 1000 Germany GDP QQ Q3 1400 US Consumer Confidence Oct (Reporting by Naveen Thukral; Editing by Sherry Jacob-Phillips)