* Wheat, corn fall after 3 pct jump, economic concerns weigh
* Caution before Fed meeting, China rate talk cool market
* Wheat crop ratings, slow corn planting underpin prices
* European wheat firm on weather after Easter closure
(Corrects to $600 billion from $600 million in paragraph 19)
BEIJING/PARIS, April 26 (Reuters) - Chicago corn and wheat futures fell on Tuesday as caution ahead of a U.S. interest-rate decision this week and worries about inflation encouraged operators to pause after a weather-driven jump a day earlier.
But Chicago Board of Trade futures trimmed losses as share and oil prices turned higher, and with persistent worries about adverse crop weather giving grain prices a firm footing.
Corn and wheat in Chicago rose 3 percent in the previous session amid weather concerns, which were underscored by weekly U.S. crop data released after Monday's market close. European wheat prices, which resumed trading on Tuesday after a four-day closure for the Easter holiday, gained ground in reaction to Monday's U.S. rise and on growing fears about dryness stressing crops in western Europe.
Front-month CBOT wheat prices fell 1.00 percent to $8.17-3/4 a bushel by 1215 GMT. CBOT corn dropped 0.69 percent to $7.57-1/4 while soybeans also lost 0.68 percent to $13.80.
"CBOT trading weakened amid a wide commodities sell-off," said Ricky Chan, senior account manager with ADMIS Hong Kong Limited, citing caution ahead of a meeting of the U.S. Federal Reserve that starts on Tuesday.
"There is also market talk that China may raise interest rates again to curb inflation, which has also pressured metals and stock markets."
ADVERSE N. HEMISPHERE WEATHER
But Chicago grains pared losses during European trading, helped by a rise in wheat futures in Paris as the European market remained firmly focused on the weather.
Weekly data from the U.S. Department of Agriculture showed planting of U.S. corn had been stalled by wet weather.
Wet weather was also hampering sowing of spring wheat while winter wheat continued to suffer from dry conditions.
"We're emerging from a 2010 context where we had the U.S. and the European Union in a position to export quality wheat," Cedric Weber, analyst with French consultancy Offre & Demande Agricole, said.
"Now we have these two producers, on whom we were relying at least until October when the Russian and Canadian harvests come in, and which are not looking good in terms of yields."
Major European wheat producers France, Germany and Britain have experienced dry, warm weather this month that has raised concerns about yield losses, and traders said storms in France over the weekend were too sporadic to boost grain.
"We're talking about scattered and stormy rain: in some places a lot, in other places not enough and elsewhere nothing at all," a French trader said.
Benchmark November milling wheat in Paris was up 1.89 percent at 229.00 euros a tonne.
With U.S. and EU crop yields looking uncertain for the 2011 harvest, global grain markets will be looking closely at the outlook in Russia and Ukraine, which curbed exports this season in response to a severe drought in 2010.
Ukraine's farm ministry said on Tuesday it had recommended lifting export quotas on maize given ample domestic supply,
Russia could progressively resume wheat exports later in 2011, which would pressure prices, a U.S.-based consultancy said.
The Fed's meeting was not expected to lead to rate cut or a change to its $600 billion bond buying program, but a groundbreaking press conference by Chairman Ben Bernanke after the rate decision is expected to set a tone for markets.
In China, meanwhile, a state-backed newspaper reported annual inflation could edge up to 5.5 percent in April, giving the central bank scope to further tighten monetary policy.
China has moved aggressively this year to cool inflation and surprised markets by announcing interest rate hikes and increases in the amount of cash banks must hold in reserves at odd times such as weekends and over holidays, leaving investors concerned Beijing may use the May 2 long weekend to announce additional tightening.
* Front-month prices as of 1215 GMT Product Last Change Percent Move End 2010 Ytd Percent CBOT wheat 817.75 -8.25 -1.00 794.25 2.96 CBOT corn 757.25 -5.25 -0.69 629.00 20.39 CBOT soybeans 1380.00 -9.50 -0.68 1393.75 -0.99 CBOT rice 14.36 -0.12 -0.87 14.00 2.57 Paris wheat 256.50 4.25 +1.68 252.20 1.70 Paris maize 240.25 0.50 +0.21 235.00 2.23 Paris rapeseed 471.50 1.25 +0.27 497.25 -5.18 Crude oil 112.09 -0.19 -0.17 91.38 22.66 Euro/dlr 1.46 0.00 +0.25 1.34 9.25 *Front month contracts. CBOT contracts in cents per bushel except rice which is in dollars per hundredweight. Paris wheat in euros a tonne.
(Reporting by Niu Shuping, Tom Miles, Gus Trompiz and Valerie Parent; Editing by Alison Birrane)