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Corn and soybeans rebound off previous lows

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Wheat ticks higher on technical trading

(Updates for U.S. market open, changes dateline from

BEIJING/PARIS to CHICAGO)

By Heather Schlitz

CHICAGO, June 27 (Reuters) - Chicago corn and soybean

futures rose on Friday from multi-month lows, supported by short

covering and a weakening dollar, analysts said.

Grain market participants were also adjusting positions as

they turned their attention to U.S. Department of Agriculture

acreage, stock and crop progress reports on Monday.

However, favourable supply prospects in the United States

and worldwide remained a curb on prices.

The most-active soybean contract was last up 9-3/4

cents to $10.26-1/4 per bushel as of 11:15 a.m. CT (1615 GMT).

CBOT wheat added 4-1/2 cents to $5.41-1/4 a bushel.

CBOT corn gained 4-1/2 cents to $4.08-1/2 a bushel,

recovering from Thursday's eight-month low of $4.02-1/4.

"There's some short covering after the big selloff," Randy

Place, analyst at Hightower Report, said." We've already priced

in a good bit of bearishness this week."

Further weakness in the dollar, as investors see chances of

bigger U.S. interest rate cuts this year, also helped underpin

commodity markets.

Despite Friday's bounce, large global supply prospects still

hung over grain markets.

Warm weather and rains have created ideal growing conditions

for soybeans and corn in the U.S. Midwest, while in Brazil

farmers are expected to harvest a bumper second corn crop

following a record soybean harvest earlier this year.

"It'll be a larger crop than expected, which competes

directly with U.S. exports," Place said.

In wheat, the International Grains Council raised its

2025-26 world wheat crop outlook by 2 million tons to 808

million on Thursday, while the European Commission increased its

forecast for the European Union's soft wheat crop by 1.6 million

tons to 128.2 million tons.

Canadian farmers planted more acres of wheat, oats,

soybeans, lentils, dry peas and corn, but fewer acres of canola

and barley compared with 2024 levels, according to a Statistics

Canada survey released on Friday.