Wheat rallies on Black Sea tensions, weather worries

* CBOT wheat jumps to 1-month peak

* Focus on spring weather risks, more talk of Russia export delays

* Corn down, soy up as traders assess Midwest planting outlook

(Updates with U.S. trading, adds quotes, updates prices, changes byline, change dateline from PARIS/SINGAPORE)

CHICAGO, April 5 (Reuters) - U.S wheat futures spiked to a one-month high on Friday as spring weather risks in the northern hemisphere and renewed tensions in the Black Sea unsettled the market.

Soybeans edged up and corn eased as investors weighed U.S. planting prospects following generally favorable rains in the Midwest farm belt and rising export competition from South America.

Corn and soybean markets are on pace for modest weekly declines, while wheat is poised to notch a third straight weekly gain.

"The market has been focusing on good weather conditions in the Midwest and now we are returning to concerns about the Black Sea," said Bill Lapp, president of Advanced Economic Solutions.

The wheat market has firmed on rumors of delays to Russian export cargoes, even as Russian grain trader Aston denied this week that local authorities had halted some of its exports.

Meanwhile, renewed drone attacks on Black Sea grain ports caused fears of shipping delays, Lapp said.

Worries about declining French wheat conditions also underpinned the market.

U.S. wheat could appear a good buy after recent price lows, Susan Stroud, analyst at NoBullAg.com, said.

The May wheat contract on the Chicago Board of Trade (CBOT) was up 11 cents at $5.67-1/4 a bushel by 12:11 p.m. CDT, (1711 GMT). The benchmark contract earlier rose to $5.74-3/4, its highest since March 1.

Corn and soybean markets are assessing last week's U.S. Department of Agriculture acreage reports, which projected lower-than-expected corn plantings and a year-over-year increase in soybean acres, Stroud said.

Recent precipitation across the Midwest has boosted soil moisture but delayed early field work in the central and eastern belt, forecasters said. But drier weather is expected later in the month, which should favor corn planting, they said.

CBOT May soybeans rose 6-1/2 cents to $11.86-1/2 a bushel, while May corn fell 2-1/4 cents to $4.33 a bushel. (Additional reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Sherry Jacob-Phillips, Subhranshu Sahu, Eileen Soreng and Barbara Lewis)