* Wheat loses ground as ample global supplies weigh
* For 2017, wheat poised for a gain of 4.7 pct
(Updates prices, adds comments, changes dateline/byline) SINGAPORE/PARIS, Dec 29 (Reuters) - Chicago wheat futures slid for a second straight session on Friday with prices weighed down by abundant world supplies, although prices are set to finish 2017 with a gain of 4.7 percent after dropping in the previous four years. Soybeans edged higher after sliding for two consecutive sessions on improved weather across Argentina but the market was still on track to post a fall this year following bumper production in Brazil, Argentina and the United States. The Chicago Board Of Trade most-active wheat contract is set to finish the year up about 4.7 percent, having lost almost 50 percent of its value in the past four years. It was trading down 0.2 percent at $4.27 a bushel as of 1113 GMT on Friday. Soybeans are down nearly 5 percent in 2017 after posting gains of more than 16 percent in the previous year, while corn is little changed for the year, having lost ground for past four years. Concerns about supplies of high quality wheat and reduced planting in the United States have provided a floor to the wheat market in 2017. "The supply of high-protein wheat is really a concern this year," said one Singapore-based trader. "Apart from the United States, there is not much high-protein wheat available." Australia, a key wheat supplier to Asia, is expected to produce its lowest crop in 10 years after dry weather during the growing period and rains ahead of the harvest. Still, some observers noted that the benchmark wheat contract had fallen in the past quarter and that there was no indication of a reverse in trend despite some weather concerns over U.S. crops due to cold weather in some parts of the Plains. "Regardless of the rebound seen from mid-December, wheat prices in Chicago cannot get out from the bearish trend in place for several months. Very low temperatures in the U.S. Plains could have little impact on dormant crops protected by a sufficient snow layer even if some areas must be monitored," French consultancy Agritel said. Soybeans are being weighed down by concerns about ample global supplies and improving weather conditions in South America for the harvest early next year. Half of U.S. soybeans exported to China this year would not meet Chinese rules for routine delivery in 2018, according to shipping data reviewed by Reuters, signaling new hurdles in the $14-billion-a-year business. Grains inspectors and crushers called a 48-hour strike at Argentina's main port on Thursday, citing safety concerns after a worker was killed in an explosion, the manager of the Chamber of Port and Maritime Activities said.
Prices at 1113 GMT
Last Change Pct End Ytd Move 2016 Pct
CBOT wheat Mar 427.00 -0.75 -0.18 408.00 4.66 CBOT corn Mar 351.00 -1.00 -0.28 352.00 -0.28 CBOT soy Mar 957.50 0.75 0.08 1004.00 -4.63 Paris wheat Mar 159.25 0.00 0.00 177.50 -10.28 Paris maize Jan 154.25 -0.50 -0.32 166.00 -7.08 Paris rape Feb 347.75 0.25 0.07 380.25 -8.55 WTI crude oil 60.14 0.30 0.50 53.72 11.95 Euro/dlr 1.20 0.00 0.33
Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne
(Editing by Subhranshu Sahu, editing by David Evans)