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GRAINS-Soy sets 1-month top on export demand, broad commodities strength – Reuters Africa

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    * Dry conditions in Brazil may delay soy planting
    * Corn up, following firm trend as harvest awaited
    * Wheat firm on Southern Hemisphere crop doubts

 (Updates prices, adds quotes, changes dateline; previous
    By Julie Ingwersen
    CHICAGO, Sept 14 (Reuters) - U.S. soybean futures reached a
one-month high on Thursday on robust export demand and worries
about conditions in South American crop regions, analysts said.
    Corn and wheat followed the firm trend, drawing additional
support from broad strength in other commodities, including
crude oil. The 19-market Thomson Reuters CoreCommodity Index
 was up 0.4 percent after posting its highest level
since May.
    As of 12:51 p.m. CDT (1751 GMT), Chicago Board of Trade
November soybeans were up 15 cents at $9.75-1/2 per bushel
after reaching $9.78-1/4, the highest since Aug. 10.
    CBOT December corn was up 3 cents at $3.54-1/2 per
bushel and December wheat was up 3/4 cent at $4.44 a
    Soybeans rose after the U.S. Department of Agriculture
reported export sales of U.S. soybeans in the latest week at 1.6
million tonnes, topping a range of trade expectations for 1.0
million to 1.3 million tonnes. 
    Through its daily reporting system, the USDA also private
exporters sold another 198,000 tonnes of U.S. soybeans to China.

    "I really like the demand in beans and the soy complex
overall. Funds have been short; this might neutralize their
positions," said Bill Gentry, a broker at Risk Management
    Dryness in Brazil, the world's top soybean exporter, was
also supportive.
    "Traders are paying attention to the dry conditions in place
in Brazil, (which may) delay plantings," consultancy Agritel
said in a note.
    CBOT corn was firm but rangebound as traders awaited yield
reports from the U.S. harvest, which is just getting started in
the heart of the Midwest. The U.S. corn crop is maturing more
slowly than usual, but freeze threats remain low for the next
two weeks.
    Wheat struggled to stay in positive territory after the CBOT
December contract reached a one-month high of $4.50-1/2 a
bushel. Ample global wheat supplies continue to hang over the
market, although dry conditions are threatening yield prospects
in parts of Australia, a key exporter.
    "Notable dryness will continue to lower yield potential in
much of New South Wales, Queensland, and western portions of
South Australia," MDA Weather Services said in a note to
    CBOT prices as of 12:48 p.m. CDT (1748 GMT):
                                  Net     Pct  Volume
                        Last   change  change        
 CBOT wheat     WZ7   444.00     0.75     0.2   51542
 CBOT corn      CZ7   354.50     3.00     0.9   79169
 CBOT soybeans  SX7   975.75    15.25     1.6  110215
 CBOT soymeal   SMZ7  313.00     7.60     2.5   54000
 CBOT soyoil    BOZ7   35.06    -0.03    -0.1   45026
    NOTE: CBOT September wheat, December corn and November
soybeans shown in cents per bushel, December soymeal in dollars
per short ton and December soyoil in cents per lb.

 (Additional reporting by Naveen Thukral in Singapore and Gus
Trompiz in Paris; Editing by Elaine Hardcastle and Dan Grebler)