*

      Wheat up almost 8% this week, trades near 10-month high

        *

      Crop worries in Black, Europe drive wheat prices higher

        *

      Black Sea downgrades drive cut in IGC wheat crop outlook

(Adds comment in paragraph 3, details and updates prices)

    By Naveen Thukral

       SINGAPORE, May 24 (Reuters) - Chicago wheat futures

gained more ground on Friday, with the market poised for its

biggest weekly climb in a month, as concerns over crop losses in

the Black Sea region and other exporting countries supported

prices.

    Corn futures and soybeans also strengthened.

    Dry weather in the Black Sea region is curbing yield

potential for the world's cheapest wheat suppliers, according to

a report by Rabobank. "Meanwhile, production issues are also

prominent for corn in Argentina, Ukraine, and the U.S."

    The most-active wheat contract on the Chicago Board of Trade

(CBOT) Wv1 was up 0.7% at $7.03 a bushel, as of 0242 GMT,

taking the weekly gain in prices to nearly 8%.

    Corn Cv1 added 0.4% to $4.65-3/4 a bushel and soybeans

Sv1 rose 0.1% to $12.40-3/4 a bushel. For the week, corn has

risen 2.9% while soybeans were up more than 1%.

        Lower forecasts for Russia's wheat production have

fuelled a rally in the wheat market, which jumped to its highest

levels in 10 months this week. There are worries over adverse

weather in other major producers such as Ukraine, Australia,

France and Germany.

    The International Grains Council cut its forecast for

2024/25 global wheat production on Thursday, with the outlook

for key Black Sea producers - Russia and Ukraine - downgraded.

    The inter-governmental body, in its monthly update, trimmed

its 2024/25 world wheat crop outlook by 3 million metric tons to

795 million tons.

    Germany's wheat crop will shrink by 5.6% this year to 20.31

million metric tons, the country's association of farm

cooperatives said in its latest harvest estimate on Thursday,

continuing forecasts of reduced crops.

    Corn futures were supported by doubts over South American

production.

    Soybean farmers in Brazil's southernmost state, where rain

and flooding have disrupted field work for weeks, have now

harvested 91% of their soy area, up from 85% last week, crop

agency Emater said on Thursday.

    Commodity funds were net buyers of CBOT corn futures on

Thursday and net sellers of soybean, soyoil, wheat and soymeal

futures, traders said. COMFUND/CBT

(Reporting by Naveen Thukral; Editing by Mrigank Dhaniwala and

Sherry Jacob-Phillips)

((naveen.thukral@thomsonreuters.com; +65-6870-3829; Reuters

Messaging: naveen.thukral.thomsonreuters.com@reuters.net))