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GRAINS-U.S. corn, soybeans, wheat rise on technical support; weather concerns
* Grain market braces for USDA data, U.S.-China talks
* Forecast cold spell, slow harvest underpin corn (Recast, updates with U.S. trading, adds new analyst quote, changes byline/dateline; pvs PARIS)
By Mark Weinraub
CHICAGO, Oct 8 (Reuters) - U.S. corn, soybean and wheat futures rose on Tuesday, rebounding from weakness in the overnight session after finding technical support, traders said.
Soybean futures peaked at their highest since July 19 while corn hit its highest since Aug. 12.
Forecasts for a snowstorm in northern stretches of the U.S. Midwest also added support to prices, as the wintry weather raises the prospect of crop damage and further delays to an already slow harvest.
"Harvest will advance as quickly as possible for the first half of this week, before problematic weather arrives to put an abrupt halt to that," Matt Zeller, director of market information at INTL FCStone, said in a note to clients.
At 10:47 a.m. CDT (1547 GMT), Chicago Board of Trade November soybean futures were up 4-/12 cents at $9.19-3/4 a bushel. Prices traded lower before finding support at the contract's 200-day moving average.
CBOT December corn was up 5-3/4 cents at $3.92-3/4 a bushel.
CBOT December soft red winter wheat was up 5-1/2 cents a bushel at $4.94-3/4, turning higher after early weakness pushed it near its 20-day moving average.
The storm was expected to drop between six and 12 inches of snow in major crop production states such as North Dakota, Minnesota and South Dakota, forecaster Commodity Weather Group said.
Unharvested crops nearing maturity could be knocked over and damaged during the storm, the forecaster said. Further south, rain will push farmers from their fields.
In its weekly crop update on Monday afternoon, the USDA said 15% of the corn crop had been harvested as of Oct. 6, below analysts' forecasts and lower than the average pace of 27%.
On the soybean crop, the USDA said 14% had been harvested, slightly behind market forecasts. The five-year average is 34%.
Traders were waiting for the U.S. Department of Agriculture's (USDA) latest crop forecasts, which will be released on Thursday.
"All eyes are on whether the USDA shaves its U.S. corn yield forecast again," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia.
The market has become more sensitive to any setbacks in harvest yields after the USDA put quarterly stocks of corn and soybeans below expectations in a report at the end of September. (Reporting by Mark Weinraub; Editing by Steve Orlofsky)
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