GRAINS-U.S. soy, wheat, corn futures rise on strong export report

(Adds closing prices)

By Mark Weinraub

CHICAGO, Jan 26 (Reuters) - U.S. wheat, corn andsoybeans jumped on Thursday on support from a government reportthat showed strong overseas demand for all three commodities,traders said.

"We had some decent export sales compared to what we haveseen the last few weeks and that trend, particularly for cornand wheat, is likely to continue," said Jim Gerlach, presidentof broker A/C Trading.

Wheat futures posted the biggest gain, with the most-activeChicago Board of Trade soft red winter wheat futures contractrising 1.5% after the U.S. Agriculture Department reportshowed the biggest weekly wheat sales since August.

Traders said the gains in corn and soybeans were capped bythe upcoming South American harvest.

The grains received additional support from concerns thatthe crops of key supplier Ukraine will be smaller due to thewar, and that Russia's crop also will fall below expectations.

CBOT March soft red winter wheat settled up 11-1/4cents at $7.52-1/2 a bushel, and CBOT March corn was up7-3/4 cents at $6.82-1/2 a bushel.

Ukraine's corn and wheat production is set to fall for asecond year in 2023, with corn output not expected to exceed 18million tonnes and wheat production 16 million tonnes as farmersreduce planting.Mark Jekanowski, chairman of the USDA's World AgriculturalOutlook Board, told Argus Media's Paris Grain Conference thatthe agency's analysis of weather and previous crops does notsupport such a high crop as Russia estimates.

CBOT March soybeans gained 21 cents to settle at$15.23-1/2 a bushel.

The U.S. Agriculture Department's weekly report on Thursdaymorning showed that export sales of soybeans totaled 1.275million tonnes in the week ended Jan. 19, topping marketexpectations.

Corn export sales of 925,900 tonnes and wheat export salesof 561,400 tonnes were in line with trade estimates.(Reporting by Mark Weinraub in ChicagoAdditonal reporting by Naveen Thukral in Singapore and Sybillede La Hamaide in ParisEditing by Jan Harvey and Matthew Lewis)

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