GRAINS-Wheat prices fall, but worries over U.S., France output support

* Wheat falls for first time in five sessions

* Corn edges away from lowest in nearly 3 weeks

* Soybean prices firm nearly 0.5 percent

SYDNEY, June 21 (Reuters) - U.S. wheat edged down for the first time in five sessions on Wednesday to retreat from a near one-year high touched the previous day, though concerns over potential yield losses in France and the United States helped limit losses. Corn edged higher, rebounding from a near three-week low, while soybean prices rose nearly 0.5 percent. The most active wheat futures on the Chicago Board of Trade dropped 0.32 percent to $4.71 a bushel, having closed up 1.2 percent on Tuesday when prices hit their highest since June 23, 2016 at $4.75-3/4 a bushel. Fears over the impact of adverse weather across the United States and France continued to underpin prices. "The reality is we will need to see widespread production losses to change the fundamentally bearish supply picture (for prices)," said Phin Ziebell, agribusiness economist at National Australia Bank. The U.S. Department of Agriculture late on Monday rated 41 percent of the U.S. spring wheat crop as good-to-excellent, down from 45 percent a week earlier. Analysts surveyed by Reuters had expected an improvement. A heatwave hitting France and southern Europe will damage this year's wheat crops, mainly in top EU producer France and in Spain, while rainfall benefited crops in Germany, Poland and Britain, analysts said. The most active soybean futures climbed 0.32 percent to $9.30-3/4 a bushel, having closed down 1.1 percent on Tuesday. The most active corn futures rose 0.2 percent to $3.70-3/4 a bushel, after ending down 1.4 percent in the previous session when prices hit their lowest since June 1 at $3.69-1/4 a bushel. The USDA late Monday rated 67 percent of the U.S. corn and soybean crops in good-to-excellent condition. The corn figure was steady with the previous week while the soybean number was up 1 percentage point.

Grains prices at 0327 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 471.00 -1.50 -0.32% +0.86% 439.09 77 CBOT corn 370.75 0.75 +0.20% -1.20% 374.14 40 CBOT soy 930.75 3.00 +0.32% -0.75% 940.57 46 CBOT rice 11.29 -$0.08 -0.70% -2.00% $11.04 53 WTI crude 43.38 -$0.13 -0.30% -1.86% $47.52 26


Euro/dlr $1.114 $0.000 +0.03% -0.10% USD/AUD 0.7569 -0.001 -0.13% -0.33%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Colin Packham; Editing by Joseph Radford)