* Wheat off one-week high after global harvest worries
* Corn and soybeans ease after two-week tops
* Market awaits U.S. corn crop, eyes Chinese soy demand
CHICAGO, Sept 17 (Reuters) - Chicago soybeans, corn and
wheat eased on Friday as the markets consolidated after earlier
gains, pressured by a progressing American harvest and limited
exports at hurricane-damaged U.S. Gulf export terminals.
The most-active soybean futures on the Chicago Board of
Trade fell 11-1/2 cents to $12.84-1/2 a bushel, as of
11:40 a.m. (1640 GMT), erasing earlier weekly gains.
CBOT corn futures lost 3-1/2 cents to $5.26 a bushel
while wheat futures eased 4 cents to $7.09 a bushel,
poised for a 3% weekly gain.
Soybeans led the complex, falling as favorable weather
indicates strong harvest progress through the weekend, while
exports remain capped by terminals in the U.S. Gulf that
continue to struggle with power outages and hurricane damage as
the country heads into its busiest export season.
"The export picture is not favorable right now, until we get
those exports at the gulf moving up," said Mike Zuzolo,
president of Global Commodity Analytics. "It's a very crucial
two weeks, because it's our prime selling."
Wheat offered support, unaffected by harvest pressure,
though Australia's second consecutive bumper crop nears harvest,
which could ease tight global supplies.
Attention shifted to supply risks this week after a
lower-than-expected official estimate of Canada's
drought-affected harvest, as well as reduced estimates of French
and European Union crops and expectations for a fall in winter
wheat sowings in Russia.
"We've already seen considerable strength," said Arlan
Suderman, chief commodities economist at StoneX. "Wheat is
taking the opportunity to do a little profit-taking of its own."
Corn losses were limited as harvest yields in parts of the
Eastern corn belt have lagged expectation, Suderman added.
"That was the region we were counting on to make up for
losses in the Northwestern belt, where drought was a problem
this summer," he said. "Yields have been coming in a little
(Reporting by Christopher Walljasper; Additional reporting by
Gus Trompiz in Paris and Colin Packham Canberra; Editing by