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308728

GRAINS-Wheat rises on concerns over Russian export curbs

* Russia introduces tax to limit exports

* Corn, soybeans edge higher on S. America weather woes

By Colin Packham

SYDNEY, Dec 17 (Reuters) - U.S. wheat futures rose on Thursday as Russia, one of the world's largest producers of the crop, moved to limit exports, while soybeans and corn firmed on concerns about production in South America.

The most active wheat futures on the Chicago Board of Trade were up 0.8% at $6.03 bushel by 0352 GMT, after closing down 0.2% on Wednesday.

"The market continues to consolidate after the tumult created by Russia's export tax announcement," said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia.

Russian Prime Minister Mikhail Mishustin signed on Tuesday a list of orders aimed at stabilising food prices, including a grain export quota and a wheat export tax, the government said.

The tax could reduce Russia's 2020/21 wheat exports by 2 million-3 million tonnes to 37.8 million-38.8 million tonnes, SovEcon agriculture consultancy said.

Top wheat buyer Egypt bought 120,000 tonnes of Ukrainian wheat and 115,000 tonnes of Romanian wheat in an international tender for supplies, according to a statement on Tuesday from the state's General Authority for Supply Commodities.

The most active corn futures were up 0.2% at $4.28-1/4 a bushel, after gaining 0.6% in the previous session.

The most active soybean futures were up 0.4% at $11.88 a bushel, after closing little changed on Wednesday.

Both corn and soybeans remained underpinned by recent adverse weather in South America.

Analysts also noted additional support from strong demand in the United States.

U.S. soy processors crushed 181.018 million bushels of soybeans in November, their third-largest monthly crush on record, the National Oilseed Processors Association said. (Reporting by Colin Packham; Editing by Rashmi Aich)

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