* Corn rises for seventh session, at highest since early June * U.S. corn 49% planted average pace of 80 pct - USDA * Wheat at 3-month high on delayed spring wheat planting (Adds details, quote) By Naveen Thukral SINGAPORE, May 21 (Reuters) - Chicago corn futures rose for a seventh consecutive session on Tuesday, the longest rally in two years, as the pace of U.S. planting lags behind market expectations, stoking fears that farmers will be forced to abandon sowing. Wheat jumped to its highest in three months, underpinned by adverse weather in parts of the U.S. grain belt. The most-active corn contract on the Chicago Board of Trade rose 1.3% to $3.94 a bushel, as of 0336 GMT, the highest since June 1, 2018. The market has gained for seven consecutive sessions, the longest run-up in prices since June 2017. Wheat was up 1.1% at $4.83-1/2 a bushel, near the session high of $4.88 a bushel - the highest since Feb 25. Soybeans added 0.7% to $8.37 a bushel, after closing 1.2% higher on Monday. "There is bullish momentum in the corn market," said a Singapore-based trader. "Premiums in the physical market are going up as farmers are not selling." The USDA said 49% of the corn crop has been planted, behind analysts' expectations and below five-year average of 80%. The USDA said 19% of the soybean crop has been planted, behind market expectations. Delayed corn planting may prompt some farmers to shift to seeding soybeans instead, or leave fields fallow. Farmers who plant corn particularly late or under adverse weather conditions could see below-average yields. Corn may break a resistance at $3.96-3/4 and rise to $4.05-1/2, as it is riding on a fierce wave c, which is capable of travelling to its 100% projection level at $4.05-1/2, according to Wang Tao, a Reuters market analyst for commodities technicals. Wheat is drawing support because of excessive and potentially crop-damaging rains in the southern Plains, including in top winter wheat state of Kansas. Russian export prices for the new wheat crop, which is going to start arriving on the market in summer, rose last week following an increase in global benchmark Chicago prices, analysts said on Monday. Black Sea prices for the new crop of Russian wheat with 12.5% protein content were $186 per tonne on a free-on-board (FOB) basis at the end of last week, up $5 from a week earlier, Russian agricultural consultancy IKAR said in a note. China's soymeal futures rose to a five-month high on Tuesday, as investors bet on tightened supplies amid a deadlock of Sino-U.S. trade relation. Commodity funds were net buyers of Chicago Board of Trade corn, wheat, soybean, soymeal and soyoil futures contracts on Monday, traders said. Grains prices at 0336 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 483.50 5.25 +1.10% +3.53% 448.95 82 CBOT corn 394.00 5.00 +1.29% +3.96% 366.86 82 CBOT soy 837.50 5.75 +0.69% -0.27% 861.99 56 CBOT rice 11.24 $0.02 +0.13% +3.07% $10.74 91 WTI crude 63.30 $0.20 +0.32% +0.86% $63.28 Currencies Euro/dlr $1.116 $0.001 +0.06% -0.08% USD/AUD 0.6891 0.002 +0.33% -0.01% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)
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