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GRAINS-Corn, soybean futures ease on improved U.S. weather, ASF worries

* U.S. weather shows limited risks for Midwest corn, soy crops

* China makes another import purchase of U.S. soybeans

* Wheat extends rebound on overseas demand (Updates with start of U.S. trading, updates bullets, changes dateline from PARIS/SINGAPORE)

By P.J. Huffstutter

CHICAGO, Sept 27 (Reuters) - Chicago corn and soybean futures edged lower on Friday, as weather forecasts showed fewer yield risks to Midwest crops ahead of harvesting, while wheat extended a technical bounce supported by international demand and worries about poor weather in Canada and Australia.

The soybean market continued to consolidate, after a week marked by a run of Chinese purchases seen as part of efforts to revive negotiations over a year-old trade dispute between Washington and Beijing.

The Chinese buying continued on Friday: The U.S. Department of Agriculture, through its daily reporting system, said private exporters sold 126,000 tonnes of U.S. soybeans to China for delivery in the 2019-2020 marketing year that began Sept. 1.

While the Chinese buying supported soybean prices on Friday, traders said that any potential rally was soured by ongoing concern that the spread of the deadly African swine fever would limit feed demand.

Meanwhile, traders said that their attention was shifting toward closely followed U.S. grains stocks data, slated for release on Monday.

The most-active soybean contract on the Chicago Board Of Trade was down 0.63% at $8.83 a bushel, as of 10:15 a.m. CDT (1515 GMT).

CBOT corn was trading down 0.4% at $3.71 a bushel.

As U.S. corn harvesting gets going and the soybean harvest approaches, weather forecasts suggested that previously expected cold weather risks to wide swaths of the Midwest may not have much of an impact on yields.

"Frost in Northern Plains next week (is) more limited, keeping (the) threat low for corn/soy not fully mature," the Commodity Weather Group said in a note, adding the frost risk the following week appeared minimal.

Elsewhere, forecasted rain might delay harvest work but was not expected to damage crops and could also help growth of late-developing fields, it said.

Grain markets have been grappling in particular with the size of this year's U.S. corn harvest after exceptionally late planting during an incredibly wet spring.

U.S. farmers have harvested 7% of the corn crop compared with the average pace of 11%, the U.S. Department of Agriculture (USDA) said on Monday.

CBOT wheat was 0.67% higher at $4.87-1/2 a bushel, continuing Thursday's rebound that had followed a five-session falling streak.

Early in the trading session, Chicago prices drew carryover support from Paris futures which touched a six-week high amid a flurry of tenders by importing countries.

The threat of drought reducing upcoming harvests in Australia and Argentina have also underpinned wheat markets and taken the focus away from big northern hemisphere crops. (Additional reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore, Editing by Emelia Sithole-Matarise and Andrea Ricci)

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