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GRAINS-Wheat hits 1-month high on crop concerns, soy steady after 8-week low

Gus Trompiz and Naveen Thukral

* S. hemisphere crops, U.S. and Europe sowings cause concern

* Soybeans tick higher after Friday's 8-week low

* Soy market weighs U.S.-China trade talks, S. America planting

* Corn also edges higher

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Nov 25 (Reuters) - Chicago wheat futures extended gains on Monday to reach a one-month high, supported by concerns over global crop prospects, while soybeans steadied after hitting a near eight-week low as traders assessed the chances of a U.S.-Chinese trade accord. Corn ticked higher, drawing support from recent export sales. The most-active wheat contract on the Chicago Board Of Trade (CBOT) was up 1.4% at $5.25-3/4 a bushel, at 1306 GMT, adding to gains from Friday. Earlier on Monday it reached its highest level since Oct. 22, at $5.26-3/4. Soybeans added 0.2% to $8.98-3/4 a bushel after hitting their lowest level since Sept. 30, at $8.96, on Friday. Corn rose 0.4% to $3.70-1/4 a bushel. "Grain markets are higher on some technical buying and higher expectations for improving export demand for U.S. grains," brokerage Allendale said. Hopes of a first-stage trade deal between Beijing and Washington, expected to include commitments from China to increase imports of U.S. farm goods, were bolstered after U.S. President Donald Trump said a deal was "potentially very close". That added to optimism created remarks by Chinese counterpart Xi Jinping that Beijing wanted to work out an initial agreement, countering negative sentiment from last week about a deal being push back to next year. Higher-than-expected weekly U.S. soybean exports and a run of corn export sales last week have also improved demand sentiment. However, Chinese buyers scooped up at least 20 cargoes of Brazilian soybeans last week due to ongoing uncertainty around the conclusion of the trade talks, traders said on Monday.

Wheat futures drew support from adverse conditions for northern hemisphere sowing and southern hemisphere harvesting. In the United States, analysts said rain-delayed autumn harvesting of corn and soybeans may curb winter wheat sowing, raising the risk of more acreage loss after U.S. farmers planted the smallest wheat area in a century this year. In western Europe, soggy conditions were also hampering the sowing campaign, including in France, while in the Black Sea dry conditions were raising concern about Ukrainian and Russian sowings as the winter cold arrives. The prospect of drought-reduced wheat harvests in Argentina and Australia were also underpinning global prices. However, improving weather for corn and soybean planting in Argentina and Brazil were curbing Chicago prices of those crops, analysts said.

Prices at 1306 GMT

Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 525.75 7.00 1.35 503.25 4.47CBOT corn 370.25 1.50 0.41 375.00 -1.27CBOT soy 898.75 1.75 0.20 895.00 0.42Paris wheat Dec 180.25 0.75 0.42 191.25 -5.75Paris maize Jan 165.00 0.25 0.15 175.00 -5.71Paris rape Feb 388.75 -0.25 -0.06 366.00 6.22WTI crude oil 57.65 -0.12 -0.21 45.41 26.95Euro/dlr 1.10 0.00 -0.12 1.1469 -4.02

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 Subhranshu Sahu, Sherry Jacob-Phillips, Pravin Char)