Corn set for gain

SINGAPORE, Aug 31 (Reuters): Chicago corn edged lower on Wednesday amid a broad decline in world markets, although the grain was poised for its biggest monthly climb in six months as declining U.S. and European crop prospects supported prices.
Wheat and soybeans slid on expectations of higher global supplies.
"The market is in the process of pricing a potential poor yield for the season," according to a Hightower report, referring to corn.
The most-active corn contract on the Chicago Board of Trade (CBOT) was down 0.1% at $6.76-1/2 a bushel, as of 0144 GMT. The market is up more than 9% in August, its biggest monthly gain since February.
Wheat has added 1.2% in August, rising for the first time in three months, while soybeans have given up around 3% this month, after closing marginally higher in July.
World stocks tumbled for a third straight session on Tuesday, as investors worried about continued U.S. and European interest rate hikes, after data pointed to persistent inflation in both regions despite central banks' policy tightening so far.