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GRAINS-Wheat rallies to 1-month high on planting delay fears

Colin Packham

* Snow in Dakota threatens to cause planting delays

* Corn and soybeans both unchanged

SYDNEY, March 26 (Reuters) - U.S. wheat futures rose more than 0.5 percent on Tuesday to hit a one-month high as adverse weather in a major producing region stoked fears about potential planting delays. Corn and soybeans were both unchanged. The most active wheat futures on the Chicago Board Of Trade were up 0.6 percent at $4.72-1/2 a bushel by 0254 GMT, just off the session high of $4.74-1/2 a bushel - the highest since Feb. 27. Wheat closed up 0.7 percent on Monday. "The U.S. is likely to experience some delays in planting," said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia. "Investors though may have trimmed hefty short positions in response." Analysts noted a blanket of heavy, wet snow is covering most of North Dakota, the top U.S. wheat state, which could mean a delay in planting spring wheat. The Farm Belt is still reeling from a "bomb cyclone" storm that unleashed floods last week. The U.S. Department of Agriculture on Monday reported export inspections of U.S. wheat in the latest week at 340,398 tonnes. The most active soybean futures were little changed at $9.06-1/4 a bushel, having firmed 0.4 percent on Monday. The most active corn futures were unchanged at $3.79-3/4 a bushel, having gained 0.4 percent in the previous session. Export inspections of corn totalled 995,997 tonnes, while inspections of soybeans were 857,970 tonnes.

Grains prices at 0254 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 472.50 3.00 +0.64% +1.39% 470.13 63CBOT corn 379.75 0.00 +0.00% +0.40% 375.23 72CBOT soy 906.25 -0.25 -0.03% +0.28% 910.82 57CBOT rice 11.12 -$0.05 -0.45% -0.85% $10.65 72WTI crude 59.20 $0.38 +0.65% +0.27% $57.04 64


Euro/dlr $1.132 $0.000 +0.04% +0.02%USD/AUD 0.7121 0.001 +0.14% +0.55%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Colin Packham; Editing by Shreejay Sinha)