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GRAINS-Chicago wheat falls as big global supply hangs over market

* Black Sea countries crimp U.S. wheat exports

* Corn edges down as record yield estimate weighs

* Soybeans also curbed by USDA harvest forecast

* No severe weather risks facing grain markets

(Updates with European trading, changes dateline) PARIS, Nov 13 (Reuters) - Chicago wheat futures eased on Monday as a bounce from the end of last week petered out in the face of stiff export competition fueled by large inventories of the cereal. Corn edged lower as a U.S. government estimate calling for a record harvest yield hung over the market. Soybeans also ticked lower, similarly curbed by last Thursday's U.S. Department of Agriculture (USDA) crop report that gave slightly higher than expected U.S. yield projection. Chicago futures were also facing a stronger dollar, which makes U.S. crops less attractive to overseas buyers, while grain markets were generally grappling with high global supplies and few short-term weather risks. The Chicago Board of Trade (CBOT) most-active wheat contract gave up 1.2 percent to $4.26-1/4 a bushel by 1226 GMT. "Wheat markets broadly are now focused on export sales from the big producers," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. "The U.S. needs to export substantial amounts of wheat so prices remain vulnerable to further U.S. dollar strength." U.S. wheat is struggling with Black Sea exporters, who are winning a big chunk of the global export business. Export competition could increase further after India's decision to raise its wheat import tax, which could leave more wheat from Ukraine and Russia looking for an outlet. Russian wheat export prices fell for the second consecutive week due to a weaker rouble currency against the dollar and softer demand, analysts said.

In a sign of the growing importance of Black Sea grain markets, CME Group , the owner of CBOT, said on Monday it would next month launch Black Sea wheat and corn futures based on export price assessments by Platts. CBOT corn lost 0.4 percent to $3.42-1/4 a bushel while soybeans eased 0.2 percent to $9.84-3/4 a bushel. The USDA forecast of a record U.S. corn yield pushed Chicago to contract lows last week, although analysts say further downside may be limited given short positions held by investors and likely reluctance by farmers to sell. Soybean prices have been underpinned by brisk Chinese demand but improving weather conditions for the South American growing season have reduced support. "Argentina soybean and early corn planting pace to remain uninterrupted as dry weather pattern holds," Thomson Reuters Agriculture Research analysts said in a note. Brazilian soybean and corn crops should also see favorable weather for the week ahead, they said.

Prices at 1226 GMT

Last Change Pct End Ytd Pct Move 2016 Move CBOT wheat 426.25 -5.25 -1.22 408.00 4.47 CBOT corn 342.25 -1.25 -0.36 352.00 -2.77 CBOT soy 984.75 -2.25 -0.23 1004.00 -1.92 Paris wheat Dec 160.00 -0.50 -0.31 175.00 -8.57 Paris maize Nov 157.00 -0.50 -0.32 171.00 -8.19 Paris rape Nov 379.25 -1.50 -0.39 393.00 -3.50 WTI crude oil 56.78 0.04 0.07 53.72 5.70 Euro/dlr 1.17 0.00 -0.08

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

(Reporting by Gus Trompiz and Naveen Thukral; Editing by Richard Pullin and David Evans)