CBOT gives up gains as dollar rises, oil off 1-year high * Better harvest weather seen but outlook uncertain * Euronext quiet with operators away at trade gathering PARIS/SYDNEY, Oct 16 - U.S. soybean and grain futures were little changed on Friday, underpinned by uncertain U.S. harvest weather but paring earlier gains as the dollar firmed while oil and share prices eased. Outside markets continued to have a strong bearing on the grains complex, with prices very sensitive to dollar movements. A falling U.S. currency and a fresh one-year high for oil above $78 per barrel sent Chicago futures higher earlier on Friday, recouping some of their losses from the previous session when an improved weather outlook pressured U.S. prices. "The general theme is dollar down and commodities up," said Collin Lethbridge, trading desk manager at FCStone Australia. A weaker dollar tends to support U.S.-priced commodities by making them cheaper for holders of other currencies, while oil influences grains because of their use in alternative fuels. The weather situation in the U.S. Midwest remained a focus for grain markets. Forecasts point to a four to five day window for farmers to to pick up the pace of corn and soybean harvesting after wet weather slowed progress, but cold, wet weather could return next week, operators said. A record U.S. soybean crop and near record corn crop are expected but late plantings meant the harvest was already running behind schedule before wet cold weather intervened, leading to concerns that this year the normal trend of big crops getting bigger will not be followed. Weekly U.S. exports would also be a focus for CBOT during the U.S. session later on Friday. EURONEXT SUBDUED Chicago Board of Trade Corn for December delivery ended the electronic session up 0.07 percent at $3.73-1/4 a bushel after a 2.6 percent drop on Thursday that took the contract off a 3-1/2 month high reached earlier in the week. Soybeans for November delivery gained 0.18 percent to $9.84-3/4 per bushel after sliding 1.1 percent on Thursday as harvest weather improved. On wheat markets, CBOT December wheat rose 0.50 percent to $5.07-1/2 after dropping 1.6 percent on Thursday when it retreated from 10-week highs reached on short-covering. November milling wheat on Euronext was flat at 126.75 euros a tonne in subdued trade, with many operators away at a major gathering of the European grains trade. "It's a dead day. A lot of the trade is away," one dealer said. The hesitant mood in Paris also reflected uncertainty about the level of open positions, with November options that expired on Thursday not yet fully processed, operators said. News that Egypt bought French wheat only in its latest tender on Thursday was supportive for the European market, but large supplies meant export activity would have to remain brisk, they added. * Prices as of 1331 GMT Product Last Change Percent Move End 2008 Ytd Percent CBOT corn 373.25 0.25 +0.07 407.00 -8.29 CBOT soybeans 984.75 1.75 +0.18 972.25 1.29 CBOT wheat 507.50 2.50 +0.50 610.75 -16.91 CBOT rice 13.74 -0.06 -0.44 15.34 -10.46 Paris wheat 126.75 0.00 +0.00 137.25 -7.65 London wheat 101.00 0.20 +0.20 105.75 -4.49 Paris maize 125.00 -0.50 -0.40 118.00 5.93 Paris rapeseed 268.00 1.25 +0.47 263.75 1.61 Crude oil 77.35 -0.23 -0.30 44.60 73.43 Euro/dlr 1.49 -0.01 -0.51 1.49 0.01 *Front month contracts. CBOT contracts in cents per bushels except rice which is in dollars per hundredweight. Paris wheat in euros a tonne and London wheat in pounds per tonne.

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