(New throughout; updates prices, adds quotes, changes byline,

changes dateline from previous PARIS/SINGAPORE)

By Julie Ingwersen

CHICAGO, Sept 24 (Reuters) -

U.S. soybean and corn futures climbed to two-month highs on

Tuesday, following broad gains in commodity and equity markets

after China unveiled economic stimulus measures, but pared gains

as forecasts called for improved crop weather in South America,

analysts said.

As of 1:06 p.m. CDT

(1806 GMT)

, benchmark Chicago Board of Trade soybean futures

were up 1-1/2 cents at $10.40-3/4 per bushel after rising to

$10.58-1/4, the highest on a continuous chart of the most-active

contract since July 26.

CBOT corn and wheat futures turned lower on

profit-taking, seasonal pressure from the ongoing U.S. corn

harvest and strong global export competition for wheat.

CBOT corn was down 2-1/2 cents at $4.11 a bushel,

turning down after a climb to $4.18-1/4, its highest since July

26. CBOT wheat was down 5-1/2 cents at $5.77 a bushel,

retreating from a one-week high.

Soybeans paced the early rally after the central bank of

China, the world's top soy buyer, announced

broad monetary stimulus

and property market support measures to revive its economy.

But prices cooled on profit-taking and some forecast

models predicting much-needed rains in Brazil next week that

could bolster soybean planting and crop prospects.

"The fact that the rain was still in there in the midday

(model) run, I think that's why soybeans faded off their highs,"

said Ted Seifried, strategist at Zaner Group.

Others noted a lack of major soybean export sales

announcements from the USDA, given market rumors that Chinese

buyers were booking U.S. supplies.

"We have not seen much in the way of confirmations of

export sales, despite all sorts of talk that China has been a

pretty active buyer over the last week," said Jack Scoville,

analyst with the Price Futures Group in Chicago.

The U.S. corn and soybean harvest is progressing

although rains crossing the central Midwest on Tuesday

interrupted fieldwork in some areas.

In a weekly report released after Monday's market close, the

USDA pegged the soybean harvest as 13% complete and the corn

harvest as 14% done, both ahead of their respective five-year

averages.