* Near-term tightness in world supply underpins soy, corn
prices
* Dryness in North American plains lifts wheat markets
* Market eyes USDA supply-demand report after acreage
surprise
CHICAGO, April 7 (Reuters) - Chicago wheat futures gained on
Wednesday, following the Minneapolis Grain Exchange's hard red
spring wheat higher on concerns that dryness across the U.S.
Great Plains could affect spring wheat plantings.
Chicago corn gained ahead of the U.S. Department of
Agriculture's monthly supply and demand report on Friday, which
is expected to show strong exports further drawing down corn
stockpiles. Soybeans slid as the South American harvest
progressed.
The most-active wheat contract on the Chicago Board of Trade
ended 3/4 cent higher at $6.16-1/4 per bushel, while MGEX
May spring wheat gained 13-1/2 cents to $6.24-1/2 per
bushel.
CBOT soybeans fell 10 cents to $14.08-3/4 per bushel,
while CBOT corn added 6-1/4 cents to $5.60-1/2 per bushel.
Spring wheat planting across the U.S. Upper Great plains and
Canadian prairie has been hampered by extreme dryness that could
negatively affect yields, said Brian Hoops, senior market
analyst at Midwest Market Solutions, noting that some farmers
could move away from wheat seedings.
"They could prolong planting decisions and go to soybeans,"
he said, "but they need some rain."
Meanwhile, corn and soybeans struggled to find direction as
traders watch for the USDA to adjust grain usage in its monthly
supply and demand assessment.
The agency may wait to see whether grain exports catch up
with recent sales before reducing stocks, said Joe Vaclavik,
president of Standard Grain.
"Weve still got a lot of shipping to do, in terms of corn,
if were going to get anywhere near these targets," he said.
Brazil's soybean harvest is poised for a record yield,
pressuring the U.S. oilseed market.
Brazil looks to export 16.3 million tonnes of soybeans in
April, up from 14.2 million acres a year ago, as well as 22,000
tonnes of corn, according to Brazilian grain export association
ANEC.
The U.S. corn markets found support as Brazil's second-crop
corn planting could see yields trimmed by an estimated 3.6% this
year, Agroconsult said.
(Reporting by Christopher Walljasper; additional reporting by
Gus Trompiz in Paris and Naveen Thukral in Singapore
Editing by Marguerita Choy and Jonathan Oatis)