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GRAINS-Corn stuck near 4-month low as mild weather curbs market

Gus Trompiz and Naveen Thukral

* Corn consolidates after Friday's low

* Benign Midwest weather, weak exports keep lid on prices

* Soybeans, wheat edge lower

* Market eyes weekly crop ratings, monthly forecasts from USDA

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Sept 9 (Reuters) - Chicago corn futures were little changed on Monday, consolidating after a near four-month low in the previous session as crop-friendly Midwest weather kept a lid on prices ahead of widely followed U.S. government data this week. Soybeans ticked down, also curbed by benign growing conditions for U.S crops, while wheat eased for a second session as a Saudi tender underscored stiff export competition in a well-supplied world market. The most-active corn contract on the Chicago Board Of Trade (CBOT) was down 0.4% at $3.54 a bushel, as of 1238 GMT, having dropped on Friday to its lowest since May 13 at $3.53. CBOT soybeans were down 0.3% at $8.55-1/4 a bushel and CBOT wheat was 0.7% lower at $4.60-3/4. "Prices are yielding to seasonal pressure," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia, referring CBOT corn. Weather forecasts pointed to mild temperatures along with some showers in the week ahead, which could further boost yield prospects for corn and soybean crops that have been recovering from rain-delayed spring planting. "Increasing warmth through the end of September, as well as low frost/freeze risks continues for the core corn and soy production areas," Refinitiv Agriculture Research analysts said in a note. "The latest satellite imagery points to overwhelmingly positive late-season conditions in most major agricultural areas." Private analytics firm IEG Vantage on Friday raised its forecast of the average U.S. 2019 corn yield to 169.6 bushels per acre (bpa), up from 167.8 bpa a month ago and just above the U.S. Department of Agriculture's (USDA) August estimate of 169.5 bpa. Grain markets are awaiting further clues on U.S. crops from the USDA's weekly crop progress report later on Monday and its September supply-and-demand forecasts on Thursday. Corn prices were also dampened by lower than expected weekly exports of 250,800 tonnes, as reported by the USDA on Friday. Weekly soybean export sales surpassed trade expectations at 857,900 tonnes while Chinese data showing a sharp rise in August soybean imports was thought to include delayed U.S. shipments. However, uncertain progress in discussions to resolve a U.S.-Chinese tariff dispute, which has notably stalled dented U.S. soybean shipments, remained a brake on Chicago prices. On the wheat market, traders were assessing results from a 780,000 tonne purchase by Saudi Arabia in what was a first tender held by Saudi state buyer SAGO since it changed its terms to enable Black Sea origins like Russian wheat to be offered.

Prices at 1236 GMT

Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 460.75 -3.00 -0.65 503.25 -8.45CBOT corn 354.00 -1.50 -0.42 375.00 -5.60CBOT soy 855.25 -2.50 -0.29 895.00 -4.44Paris wheat Dec 166.25 -0.50 -0.30 191.25 -13.07Paris maize Nov 161.50 0.50 0.31 175.25 -7.85Paris rape Nov 382.75 0.00 0.00 364.00 5.15WTI crude oil 56.94 0.42 0.74 45.41 25.39Euro/dlr 1.10 0.00 0.16 1.1469 -3.70

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 Evans)