* U.S. corn stocks seen tightest in 8 years, USDA says

* USDA boosts corn demand from ethanol makers, exporters

* Soybean crush cut by USDA, boosting 2020/21 ending stocks (Rewrites throughout with U.S. market activity, adds quote, updates prices, changes byline, changes dateline, previous SINGAPORE/PARIS)

CHICAGO, June 10 (Reuters) - U.S. corn futures rallied to the highest in a month on Thursday after the U.S. Department of Agriculture (USDA) projected stronger demand from ethanol makers and exporters ahead of the next harvest.

Soybeans were mixed as the USDA unexpectedly reduced its view of processor demand this spring and summer in its monthly supply-and-demand report, resulting in slightly larger-than-anticipated stocks at the end of the current crop season.

Wheat futures were narrowly mixed as the government's stocks and production forecasts were in line with expectations.

Grain traders are turning their focus to corn and soy crop development weather in the U.S. Midwest and late-season corn conditions in drought-hit Brazil as global feed grain supplies are tightening.

The USDA is projecting U.S. corn supplies to shrink to the tightest in eight years due to rising demand from the ethanol and export sectors. The agency also sharply cut its Brazilian corn harvest outlook.

Earlier on Thursday, Brazil's CONAB slashed its corn crop forecast by nearly 10 million tonnes from its May estimate.

"My biggest takeaway is that we have confirmation of a lot tighter South American supplies, and therefore global supply for the next six months in the corn," said Mike Zuzolo, president of Global Commodity Analytics.

Chicago Board of Trade July corn was up 12-3/4 cents at $7.03-1/2 a bushel at 12:25 p.m. CDT (1725 GMT) after peaking at $7.17-1/2, the highest for a most-active contract since May 12.

July soybeans fell 15 cents to $15.47-1/2 a bushel after the USDA cut its 2020/21 season crush forecast. But new-crop November futures gained 8-3/4 cents to $14.57 as investors remain concerned about hot, dry weather in parts of the U.S. Midwest and tight supplies of the oilseed.

CBOT July wheat was 1/4 cent lower at $6.82 a bushel. (Additional reporting by Naveen Thukral in Singapore, Sybille de La Hamaide in Paris and Christopher Walljasper in Chicago; editing by Uttaresh.V, Jane Merriman and Jonathan Oatis)