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GRAINS-Corn hits 11-month high as focus remains on rain risks

Gus Trompiz and Naveen Thukral

* Chicago corn rises for 6th consecutive session

* Corn planting delays in U.S. Midwest support prices

* Kansas leads wheat gains as rain threatens winter crops

* Soybeans rebounds after Friday slide

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, May 20 (Reuters) - U.S. corn futures on Monday hit their highest in almost a year, rising for a sixth straight session as showers expected this week fuelled concern over worsening planting conditions for this year's crop. Wheat also extended its rally, led by a 3% jump for Kansas futures as the wet weather also raised the prospect of damage to maturing winter wheat plants. Soybeans rose to recover some of Friday's sharp losses. Reaction to U.S. weather risks has been amplified by investment funds that have been holding large short positions in Chicago grains. The most-active corn contract on the Chicago Board of Trade was up 1.6% at $3.89-1/2 a bushel by 1045 GMT. It earlier reached its highest since early June last tear at $3.89-3/4. "The talk between traders is that 'prevented planted' acres for corn may be as high as 5 million acres," said Ole Houe, director of advisory services at brokerage IKON Commodities. "Whereas in the past we have never seen it above 3.6 million acres, and then there is the debate over 'yield drag' from later-planted corn." The western side of the U.S. Midwest grain belt is forecast to receive heavy showers this week, compounding soggy field conditions after torrential rain and snow this spring. The market is awaiting the U.S. Department of Agriculture's next weekly crop update on Monday to see whether farmers made much headway in planting during relatively drier conditions last week. In wheat, the most active Kansas hard red winter wheat futures were up 3.4% at a one-month high of $4.34-1/2. Chicago soft red winter wheat was up 1.6% at $4.74-1/2 a bushel after touching a six-week high of $4.74-3/4. As well as reacting to corn prices, the wheat market has been supported by weather risks for spring wheat planting and winter wheat development. "It is not only the delays to planting that are playing their part, but also concerns about the quality of the young winter wheat as excessive moisture increases the risk of fungal infections," Commerzbank analysts said in a note. CBOT soybeans added 1.2% to $8.31-3/4 a bushel after dropping 2.1% in the previous session. The possibility of farmers switching acreage from corn to later-planted soybeans have weighed on the oilseed along with U.S.-Chinese trade tensions. However, doubts over soybean export demand created by the fractious U.S.-China trade talks could tempt some farmers to stick with corn.

Prices at 1045 GMT

Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 474.50 9.50 2.04 503.25 -5.71CBOT corn 389.50 6.25 1.63 375.00 3.87CBOT soy 831.75 10.00 1.22 895.00 -7.07Paris wheat Sep 175.25 1.50 0.86 190.50 -8.01Paris maize Jun 163.25 1.25 0.77 184.50 -11.52Paris rape Aug 363.25 0.50 0.14 362.25 0.28WTI crude oil 62.89 0.13 0.21 45.41 38.49Euro/dlr 1.12 0.00 -0.0 1.1469 -2.74

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

(Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Rashmi Aich and David Goodman)