SINGAPORE, June 1 (Reuters) - Chicago soybeans bounced

back on Monday, with higher oil prices underpinning the oilseed

which is increasingly being used to make alternative fuels amid

tight energy supplies following the Iran war.

Wheat prices were little changed on pressure from Northern

Hemisphere harvest, while corn fell.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of

Trade (CBOT) rose 0.1% to $11.88-1/4 a bushel, as of 0013

GMT, having closed lower in the past session.

* Wheat was flat at $6.10-1/2 a bushel and corn

lost 0.1% to $4.46-1/2 a bushel.

* Oil prices rose more than 2% in early trading on Monday

after Israel ordered troops to move further into Lebanon in the

battle with the Iranian-backed Hezbollah militant group, despite

a ceasefire announced more than six weeks ago.

* The stepped-up fighting, coming just after the U.S. hosted

Israeli-Lebanon peace talks in Washington on Friday, dimmed

expectations that the U.S. and Iran could soon announce an

extension to their ceasefire agreement.

* Soybean futures often track crude oil prices, it is

commonly used as feedstocks for biofuels.

* Crop-friendly weather in the U.S. Midwest has pushed

prices lower as market players await the U.S. Department of

Agriculture's weekly crop progress report on Monday.

* Wheat faced pressured from the upcoming Northern

Hemisphere harvests. While the U.S. crop has suffered

irreparable damage from drought, many other countries are on

track for good crops.

* Agriculture consultancy Sovecon raised on Wednesday its

forecast for Russia's 2026 wheat crop to 90.3 million metric

tons from 89.7 million tons seen earlier, citing favourable

"moisture reserves".

* However, India forecast an El Nino-weakened monsoon in 2026

that will bring the lowest rainfall in 11 years, fuelling

concerns over crops, food prices and growth in the world's

fifth-largest economy, battling inflationary pressures from the

Iran war.

MARKET NEWS

* Oil prices rose more than 2% in early trading on Monday

after Israel ordered troops to move further into Lebanon in the

battle with the Iranian-backed Hezbollah militant group, despite

a ceasefire announced more than six weeks ago.

DATA/EVENTS (GMT)

0145 China RatingDog Manufacturing PMI Final May

0600 UK Nationwide house price mm, yy May

0750 France HCOB Manufacturing PMI May

0755 Germany HCOB Mfg PMI May

0800 EU HCOB Mfg Final PMI May

0830 UK S&P Global Manufacturing PMI May

0900 EU Unemployment Rate Apr

1345 US S&P Global Mfg PMI Final May

1400 US ISM Manufacturing PMI May