GRAINS-Soybeans off two-week high as market assesses weather outlook

* Soybean consolidates after gains on weather risks

* Market monitors dry Brazil, wet U.S., Argentine zones

* U.S. harvest delays seen minor, Argentina turns drier

* Investors awaiting USDA crop progress, supply/demand data

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Oct 9 (Reuters) - Chicago soybeans pulled back after touching a two-week high on Monday, consolidating as investors weighed up the extent of weather risks to South American planting and U.S. harvesting. Corn also retreated, after reaching a one-week peak, with the prospect of rain delays to the U.S. harvest set against increasingly optimistic yield harvests. Wheat also eased. Grain traders awaited further pointers on U.S. crop conditions from a weekly U.S. Department of Agriculture (USDA) update after the market close on Monday, as well as a broader view of U.S. and world markets from the USDA's monthly supply and demand forecasts due on Thursday. The Chicago Board Of Trade most-active soybean contract was down 0.2 percent at $9.70-1/2 a bushel by 1113 GMT, after climbing to its highest since Sept. 25 at $9.77 a bushel. Corn was down 0.1 percent at $3.49-1/2 a bushel, edging back after hitting a one-week high of $3.51-3/4. Wheat slipped 0.8 percent to $4.40 a bushel. "Weather forecasters continue to expect soybean regions in Brazil's Mato Grosso state to see no material gains in soil moisture for another week or so," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. "The market does seem to be adding a little to prices to reflect concern about this issue." Soybean planting in Brazil was 5.6 percent complete as of Friday, consultancy Safras & Mercado said, down from 10.4 percent at this time last year, as dry weather for most of September delayed seeding. However, drier looking forecasts in Argentina could help absorb excess moisture there, and reduce risks for corn and soybean planting and bring some relief to developing wheat crops. In the United States, traders were monitoring shifting rain forecasts but no serious disruption was seen at this stage, which could put the focus on estimates for bumper yields. Brokerage INTL FCStone and research firm Informa Economics last week raised their U.S. yield estimates for both crops. Rain relief in parched wheat belts in Australia, meanwhile, could reduce price support for wheat from what has been an area of uncertainty in a context of ample global supply. "More rain on the way for Australia wheat and rapeseed (will) help slow or even stop further yield declines," Thomson Reuters Agriculture Research analysts said in a daily note. Large speculators increased their net short position in CBOT corn futures in the week to Oct. 3, regulatory data released on Friday showed.

Prices at 1113 GMT

Last Change Pct End Ytd Pct Move 2016 Move CBOT wheat 440.00 -3.50 -0.79 408.00 7.84 CBOT corn 349.50 -0.50 -0.14 352.00 -0.71 CBOT soy 970.50 -1.75 -0.18 1004.00 -3.34 Paris wheat Dec 164.25 -1.00 -0.61 175.00 -6.14 Paris maize Nov 153.50 -0.75 -0.49 170.00 -9.71 Paris rape Nov 368.50 -0.75 -0.20 383.25 -3.85 WTI crude oil 49.38 0.09 0.18 53.72 -8.08 Euro/dlr 1.17 0.00 0.06

Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne

(Reporting by Naveen Thukral in Singapore and Gus Trompiz in Paris; Editing by Kenneth Maxwell and Susan Fenton)