GRAINS-U.S. weather view sparks corn, soybean rally

(Recasts, updates with U.S. trading, adds analyst quote, changes byline, dateline; pvs LONDON)

CHICAGO, July 7 (Reuters) - Chicago Board of Trade corn and soybean futures rallied on Friday on hotter and drier forecasts for important growing areas of the U.S. Midwest, traders said.

Spring wheat futures also posted strong gains, as temperatures in the already parched northern U.S. Plains were expected to reach 100 degrees Fahrenheit in some growing areas in the coming days. The heat could further damage a spring wheat crop that already has been severely stressed.

Hard red winter wheat and soft red winter wheat futures also rose, but gains were muted as those markets struggled to break through two-year highs hit this week.

"The six to 10 day weather outlook shows warmer than average temperatures for most of the United States," said Derek Hullett, ag associate at CHS Hedging. "Precipitation levels will be average to slightly below average."

The weather outlook spurred corn futures to their highest level since June 21, 2016, while soybean futures hit a four-month high.

At 11:46 a.m. CDT (1646 GMT), CBOT December corn futures were up 2-3/4 cents at $4.05-1/2 a bushel. CBOT November soybeans were 12-3/4 cents higher at $10.12 a bushel.

MGEX spring wheat for September delivery was up 8-3/4 cents at $7.77-3/4 a bushel.

"The dry and very hot conditions in the northern Plains continue to put severe stress on the spring wheat crop, especially in the northwestern Plains," MDA Weather Services said in a note to clients.

CBOT September soft red winter wheat futures were 2 cents higher at $5.41 a bushel. K.C. hard red winter wheat for September delivery was up 2-1/4 cents at $5.48-3/4 a bushel. (Reporting by Mark Weinraub in Chicago; additional reporting by Colin Packham in Sydney and Nigel Hunt in London; Editing by Edmund Blair and Grant McCool)