* Wheat little changed after 10-month top on Wednesday
* Corn, soybeans edge up

By Gus Trompiz and Naveen Thukral
       PARIS/SINGAPORE, May 23 (Reuters) - Chicago wheat
consolidated on Thursday following a 10-month peak a day earlier
as traders assessed rain forecasts in Russia to see if crop
conditions in the world's top exporter may stabilise after
drought and frost damage.
    Corn and soybeans edged up, supported by doubts over South
American production and what were seen as attractive prices
compared with wheat.
    Grain markets were also awaiting weekly U.S. export sales
data for a gauge of overseas demand.
        The most-active wheat contract on the Chicago Board of
Trade (CBOT) was up 0.1% at $6.93-3/4 a bushel by 1130
GMT.
    On Wednesday, the contract had climbed to its highest since
last July at $7.16-3/4 before turning lower to close under the
psychological $7 threshold.
    Reduced forecasts for Russia's wheat crop have fuelled a
steep rally this month, while also drawing attention to adverse
weather in other major producers like Ukraine, Australia and
France.
    The surge in wheat prices swelled their premium over corn,
encouraging some profit-taking in wheat since Wednesday as
traders anticipated some livestock feed demand shifting to corn.
    The market is monitoring weather charts which are suggesting
some rain relief in the far south of Russia in the coming two
weeks, though other wheat belts were set to miss out.
    "Overall, not much has changed, and the direction in grains
will continue to depend on changes in weather forecasts,"
commodity data platform CM Navigator said in a note.
    CBOT corn added 0.5% to $4.63-1/2 a bushel, while
soybeans edged up 0.3% to $12.50-1/4 a bushel.
    Drought in two key Brazilian corn-growing states is reducing
the potential size of the country's second corn crop, according
to consultancy Agroconsult.
    That could further cap South American corn supply after
sharp cuts to forecasts in Argentina following insect and
weather damage.
    The soybean harvest in Brazil may also be curbed by flooding
in the far south, though national production is set to remain
high.
    Faster-than-expected planting progress in the U.S. is
keeping a lid on corn and soybean prices, supporting
expectations of ample global supply for both crops.
    
     
 Prices at 1130 GMT                       
                         Last     Change  Pct Move
 CBOT wheat              693.75   0.75    0.11
 CBOT corn               463.50   2.25    0.49
 CBOT soy                1250.25  4.00    0.32
 Paris wheat             258.25   -1.00   -0.39
 Paris maize             215.25   -2.75   -1.26
 Paris rapeseed          494.50   6.50    1.33
 WTI crude oil           78.11    0.54    0.70
 Euro/dlr                1.08     0.00    0.19
 Most active contracts - Wheat, corn and soy US
 cents/bushel, Paris futures in euros per metric
 ton
 

    

 (Reporting by Gus Trompiz in Paris and Naveen Thukral in
Singapore; Editing by Sherry Jacob-Phillips, Alexandra Hudson)