* CBOT corn, soy firm on renewed hopes of increased exports
* CBOT wheat turns higher on Paris rally
* U.S. soybean crush hits three-month low in September
CHICAGO, Oct 15 (Reuters) - Chicago corn and soybean futures
prices rose on Friday, supported by technical buying and renewed
hopes of export demand, while wheat prices were boosted by a
rally in the European market, traders said.
Prices of corn and soybeans have recovered since falling
sharply following higher-than-expected supply forecasts from the
U.S. Department of Agriculture (USDA) on Tuesday.
For the third consecutive day, U.S. exporters sold soybeans
either to China or "unknown destinations." U.S. exporters sold
132,000 tonnes of soybeans to China for the 2021/2022 marketing
year, the USDA said on Friday.
Exporters also sold 396,000 tonnes of soybeans for delivery
to unknown destinations during the 2021/2022 marketing year, the
agency said. USDA also said exporters sold another 326,750
tonnes of soybeans, received during the reporting period, for
delivery to unknown destinations during the 2021/2022 marketing
The most-active Chicago Board of Trade (CBOT) soybeans
settled the day up 11-1/2 cents at $12.17-3/4 a bushel, while
corn was up 9 cents at $5.25-3/4 a bushel.
But even with Friday's price bump, the soybean contract
ended down for a third consecutive week.
Still, analysts and traders say they will be focused less on
supply, and more on demand and how weather is impacting harvests
and South American production, in the coming weeks.
"We're not going to get another supply update until January
from USDA, so that bearish card has been played for now," said
Craig Turner, senior ag broker at Daniels Trading.
The U.S. soybean crush hit a three-month low in September
and fell below an average of trade estimates, while soyoil
stocks at the end of last month rose for a third straight month,
according to data released by the National Oilseed Processors
Association (NOPA) on Friday.
Chicago wheat futures rose on Friday, reversing earlier
losses with support from a rally in Europe where strong exports
and concern over availability remained in focus.
The most-active CBOT wheat contract settled up 9-1/4
cents at $7.34 a bushel.
(Additional reporting by Gus Trompiz in Paris and Naveen
Thukral in Singapore; Editing by Paul Simao, Kirsten Donovan)