Soybeans slide as soyoil plummets; wheat, corn sag

* Wheat futures continue decline on profit-taking, hefty deliveries against May contract

* The soy complex dragged down by soy oil futures

* Corn ticked down on wheat weakness

CHICAGO, April 30 (Reuters) -

U.S. soybean futures fell nearly 2% on Monday as falling soyoil prices dragged down the soy complex amid weak demand, deliveries against the May futures contract and market uncertainty, traders said.

Chicago Board of Trade (CBOT) wheat futures continued to tumble from last week's multi-month highs and corn ticked lower.

As of 12:08 p.m. CDT (1708 GMT), CBOT July soybean futures were down 19 cents, or 1.6%, at $11.63 per bushel as the front five soyoil futures contract fell to life-of-contract lows. Benchmark July soyoil slid about 3% and was on track for a monthly decline of about 11%.

"It's as if the market raised the white flag and said it's hard to justify these prices," said Bill Lapp, president of Advanced Economic Solutions. "To use a technical term, oil is crapping all over itself."

Traders said heavy deliveries against CBOT May soyoil futures and weak demand for soyoil from the developing biofuels industry was pressuring the market.

"We're not consuming oil for renewable diesel as much as a lot of people thought," said Jim McCormick, partner at AgMarket. "It's facing competition from cooking oil, so the price is driving low to stay competitive."

CBOT July wheat was down 4-1/2 cents at $6.04 a bushel after falling more than 2% on Monday.

Traders said technical trading, weak demand for U.S. wheat and large deliveries against CBOT May futures worked to drag down the market.

Broad weakness in commodities including metals and crude oil added to bearish sentiment in grains, traders said.

CBOT corn was down 3-1/4 cents at $4.46 a bushel, anchored by plentiful global supplies and planting progress in the Midwest. The U.S. Department of Agriculture said late Monday the U.S. corn crop was

27% seeded

, in line with

analysts' expectations

and ahead of the five-year average of 22%.

Traders said uncertainty around the outcome of the two-day Federal Open Market Committee meeting starting on Tuesday and Friday's jobs report is creating a "risk-off" environment.

(Reporting by Heather Schlitz in Chicago; Additional reporting by Peter Hobson in Canberra and Sybille de La Hamaide in Paris; Editing by Richard Chang)