GRAINS-Chicago wheat above $5 on U.S. crop woes; soy, corn climb

* Wheat driven by threats to U.S., Canadian spring wheat

* Soybeans lifted by supportive USDA acreage, stocks data

* Corn follows firm trend despite bearish stocks figure

(Recasts; updates prices, adds quotes; changes byline, dateline, previous LONDON) CHICAGO, June 30 (Reuters) - Chicago Board of Trade wheat futures traded above $5 a bushel on Friday for the first time in a year, buoyed by diminishing outlooks for spring wheat crops in both the United States and Canada, analysts said. Spring wheat futures on the Minneapolis Grain Exchange set a fresh three-year high. CBOT soybean futures jumped 3.5 percent and corn futures followed the firm trend, despite bearish U.S. plantings and stocks data. As of 12:45 p.m. CDT (1745 GMT), CBOT July wheat was up 29-1/4 cents at $5.09-1/2 a bushel. MGEX July spring wheat was up 35 cents at $7.76-1/4 after reaching $7.80-3/4, the highest spot price since May 2014. New-crop CBOT November soybeans were up 31-1/4 cents at $9.56 a bushel and new-crop December corn was up 8 cents at $3.88 a bushel. Wheat climbed after the U.S. Department of Agriculture cut its estimate of U.S. spring wheat plantings to 10.9 million acres, down from its March forecast of 11.3 million and below a range of trade expectations. The government projected harvested acres at 10.5 million, but some analysts expected that figure would fall, given drought conditions in the northern Plains spring wheat belt. "The big thing is spring wheat acres coming in well below expectations," said Brian Hoops, analyst at Midwest Marketing Solutions. "When we get to harvested acres in July, spring wheat acres will be sharply lower, with more abandonment. That's the real bullish stand-out news," Hoops said. Canadian farmers have also planted slightly less wheat than expected, according to a Statistics Canada report issued on Thursday. CBOT soybeans climbed, with the most-active contract on track for its biggest single-day climb since May 2016, after the USDA's 2017 soybean plantings and June 1 stocks figures fell below their respective average trade estimates. Corn advanced but its rise was capped by larger-than-expected U.S. plantings and quarterly stocks figures. "The (corn) stocks number implies that the USDA may be about 100 million bushels too high on their corn feeding. And then you gain 900,000 acres from the prospective plantings report, so you've added supply here," said Dan Cekander of DC Analysis.

CBOT front-month prices as of 12:43 p.m. CDT (1743 GMT):

Last Net Pct Volume

change change

CBOT wheat Wc1 509.50 29.25 6.1 2780 CBOT corn Cc1 366.00 6.25 1.7 18408 CBOT soybeans Sc1 943.25 27.75 3.0 11510 CBOT soymeal SMc1 305.10 10.70 3.6 5407 CBOT soyoil BOc1 32.83 0.41 1.3 6085

NOTE: CBOT wheat, corn and soybeans shown in cents per bushel, soymeal in dollars per short ton and soyoil in cents per lb.

(Additional reporting by Nigel Hunt in London and Naveen Thukral in Singapore; editing by Robin Pomeroy and Chizu Nomiyama)