(Recasts, updates with U.S. trading, adds new analyst quote,
changes byline, dateline; previous PARIS/SINGAPORE)
CHICAGO, Oct 20 (Reuters) - U.S. corn and soybean futures
rose on Tuesday on strong export demand while wheat firmed on
concerns that dry weather could limit global production, traders
Soybean futures notched the biggest gains, with traders
shrugging off some much-needed rain in Brazil due to the strong
pace of overseas buying.
"The grains are green once again this morning, not far off
highs across the board, with the same global issues overhanging
the market despite a rapid U.S. harvest and increasing South
American precipitation," Matt Zeller, director of market
information at StoneX, said in a note.
At 10:38 a.m. CDT (1538 GMT), CBOT November soybean futures
were up 7 cents at $10.61-1/2 a bushel.
CBOT December corn was up 1-1/2 cents at $4.06-3/4 a
The U.S. Agriculture Department on Tuesday morning said that
private exporters reported the sale of 132,000 tonnes of
soybeans to unknown destinations for delivery in the 2020/21
marketing year. It was the sixth day in a row the USDA has
reported a so-called flash sale of either corn or soybeans.
CBOT December soft red winter wheat was up 2 cents at
$6.29 a bushel, on track for its fifth straight day of gains.
Wheat prices peaked at $6.38-1/4, the highest on a
continuous basis for the most-active contract since Dec.
24, 2014, early in the session.
Some rain has reached parched U.S. and Russian wheat belts
in recent days, but weather forecasts showed little further
moisture for some zones during the rest of October as farmers
try to complete sowing of winter wheat.
"There could be more upside potential for wheat prices if we
see more dryness in Russia and the U.S. winter wheat growing
areas," said one Singapore-based trader.
(Additoinal reporting by Gus Trompiz in Paris and Naveen
Thukral in Singapore;
Editing by Marguerita Choy)