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GRAINS-Soybeans ease from 4-year top; corn, wheat also weaker

    * Soybeans dip after climbing to highest since June 2016
    * Corn, wheat ease; strong demand, tight supply limit losses

 (Updates prices, adds quote, changes dateline)
    SINGAPORE/PARIS, Nov 19 (Reuters) - Chicago soybean futures
fell nearly 1% on Thursday, after hitting their highest level
since June 2016 in the previous session on the back of strong
demand and dry weather in parts of South America.
    Corn and wheat also weakened, following the trend.
    "Soybeans showed significant volatility yesterday in Chicago.
However, the price levels reached could end up limiting the
enthusiasm of buyers," French consultancy Agritel said in a note.
    The most-active soybean contract on the Chicago Board Of Trade
(CBOT) fell 0.9% to $11.65-1/2 a bushel by 1100 GMT. The
market climbed to its highest since June 2016 at $11.90 a bushel
on Wednesday.
    Corn was down 1.2% at $4.20-3/4 a bushel, after rising
to their highest level in 16 months the previous day, and wheat
 lost 0.5% at $5.94-1/2 a bushel.
    Global grain and oilseed markets have been supported by dry
weather in South America and strong demand from China. Recent
rains have alleviated some of the weather stress in Brazil and
Argentina, but tightening global supplies, particularly for
soybeans, have left little room for a crop shortfall.
    "The rally in agricultural commodities is driven by real
fundamentals," said one Singapore-based trader. 
    The U.S. Department of Agriculture (USDA) on Wednesday said
private exporters sold 140,000 tonnes of U.S. corn to undisclosed
buyers. That followed recent large corn sales to Mexico and South
Korea.
    U.S. farmers could plant a record acreage of major field crops
next year if favourable prices continue and spring weather allows,
a USDA official said on Wednesday.
    Commodity funds were net buyers of CBOT corn, soybean, soyoil
and wheat futures contracts on Wednesday and net sellers of
soymeal, traders said.
    
 Prices at 1100 GMT                                               
                               Last  Change    Pct     End     Ytd
                                              Move    2019     Pct
                                                              Move
  CBOT wheat                 594.50   -3.25  -0.54  558.75    6.40
  CBOT corn                  420.75   -5.00  -1.17  387.75    8.51
  CBOT soy                  1165.50  -10.25  -0.87  955.50   21.98
  Paris wheat Dec            212.25   -0.50  -0.24  188.25   12.75
  Paris maize Nov            193.00   -0.25  -0.13  174.75   10.44
  Paris rape Nov             411.75   -2.75  -0.66  391.50    5.17
  WTI crude oil               41.18   -0.64  -1.53   61.06  -32.56
  Euro/dlr                     1.18    0.00  -0.23  1.1210    5.49
 Most active contracts - Wheat, corn and soy US cents/bushel,
 Paris futures in euros per tonne
 

 (Reporting by Naveen Thukral and Sybille de La Hamaide, Editing
by Sherry Jacob-Phillips and Amy Caren Daniel)
  
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