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GRAINS-Market subdued ahead of crop tour forecasts and cool weather

Gus Trompiz and Naveen Thukral

* Market awaits estimates from Pro Farmer crop tour

* Corn down more than 11% in two weeks

* Prices little changed on Friday, Midwest weather in focus

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Aug 23 (Reuters) - Chicago grain and soybean futures were little changed on Friday as traders assessed the weather outlook for U.S. corn and soybean crops while awaiting harvest forecasts at the end of an industry tour of Midwest fields. Corn and wheat prices hit three-month lows this week, pressured by some reasonable yield assessments from the annual Pro Farmer crop tour, large wheat harvests in the northern hemisphere and a stronger dollar. However, weather cool weather forecast for the coming two weeks in parts of the Midwest ensured continued uncertainty about prospects for this year's corn and soybean harvests after a rain-delayed planting season. The most active corn contract on the Chicago Board of Trade was down 0.5% at $3.69-1/4 by 1026 GMT, holding above Wednesday's three-month low of $3.66-1/4. Over the week it was on course for a 3% drop, which would take its two-week losses to more than 11%. Corn prices tumbled in mid-August after a U.S. Department of Agriculture (USDA) report unexpectedly increased the official forecast for this year's corn production. "The corn market has done its job in moving downwards since the USDA report," said Nathan Cordier, of consultancy Agritel. "Grain prices are consolidating as we're at chart support levels." The Pro Farmer crop tour is expected to release U.S. soybean and corn production estimates later on Friday. Corn yield potential showed signs of improvement across west-central Iowa, scouts on the annual crop tour said on Thursday, but the area was still expected to produce a smaller than average crop after extreme weather delayed spring planting. Soybeans were also looking better on the fourth and final day of the Pro Farmer tour, scouts said, a rare bright spot in a U.S. Farm Belt struggling in the face of the U.S.-China trade dispute as well as poor crop weather. CBOT soybeans were up 0.2% at $8.70-1/4 a bushel, while CBOT wheat was down 0.1% at $4.71-1/2 a bushel, with both markets poised for a second straight weekly decline. Wheat had regained some ground on Thursday, supported by higher than expected weekly export sales of nearly 600,000 tonnes. However, overseas competition was capping prices, with brisk Ukrainian shipments offsetting less aggressive selling than usual by Russian exporters, traders said. "Ukraine is having a very strong start to its export campaign, with almost double the volume compared with a year ago, which is logical when they're looking at a record harvest," Agritel's Cordier said.

Prices at 1026 GMT

Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 471.50 -0.25 -0.05 503.25 -6.31CBOT corn 369.25 -1.75 -0.47 375.00 -1.53CBOT soy 870.75 2.00 0.23 895.00 -2.71Paris wheat Dec 170.25 -0.25 -0.15 191.25 -10.98Paris maize Nov 165.50 0.50 0.30 175.25 -5.56Paris rape Nov 380.25 1.00 0.26 364.00 4.46WTI crude oil 55.22 -0.13 -0.23 45.41 21.60Euro/dlr 1.11 0.00 -0.21 1.1469 -3.61

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 Sherry Jacob-Phillips and David Goodman)