* Soybean fall after hitting high of $9.14-1/2 a bushel
* Corn falls, weather forecasts pressure prices
* Wheat edges lower
By Colin Packham
SYDNEY, July 11 (Reuters) - U.S. soybeans edged lower on Thursday, falling from a 10-day high touched earlier in the session, as traders readied for a widely watched U.S. government report that is expected to lay bare the impact of recent adverse weather.
Corn fell, giving back nearly all the gains from the previous session. Wheat also retreated.
The most active soybean futures on the Chicago Board Of Trade were down 0.1% at $9.12 a bushel by 0122 GMT, having earlier reached $9.14-1/2 a bushel - the highest since July 1. Soybeans firmed 0.9% on Wednesday.
Analysts said the market was nervously awaiting the U.S. Department of Agriculture’s latest world supply and demand estimates.
“The last few USDA reports have been counter-intuitive. People do not want to be caught on the wrong side of any moves and so are very wary of taking positions,” said Phin Ziebell, agribusiness economist, National Australia Bank.
Analysts expect the USDA to lower its soybean yield estimate to 48.6 bushels per acre (bpa), down from 49.5 bpa in June.
The expected downgrade will come just days after the USDA said the condition of North American soybeans declined.
The USDA said 53% of the oilseed crop was good to excellent, down from 54% a week earlier.
The most active wheat futures were down 0.3% at $5.03-1/4 a bushel, having closed up 0.4% on Wednesday.
The most active corn futures were down 0.5% at $4.37-1/2 a bushel, having closed up 0.5% in the previous session.
Like with soybeans, the USDA is expected to downgrade its U.S. 2019 corn yield to 165.0 bpa, from 166.0 bpa in June.
Corn, however, was under more pressure as fears about the outlook for crops was brightened by forecasts calling for hot, dry weather.
The warmer weather may benefit crops by drying out soggy fields and accelerating plant growth. (Reporting by Colin Packham; editing by Gopakumar Warrier)