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GRAINS-Soybeans edge higher after deep losses, market eyes USDA report

* Soybeans tick up after losing 1.6 pct in last 3 days

* Wheat eases after two sessions of gains, corn dips

(Adds details, quotes) SINGAPORE, Jan 11 (Reuters) - Chicago soybean futures edged higher on Thursday as the market took a breather following three sessions of declines, with the focus on a U.S. government report expected to show higher inventories. Wheat dipped for the first time in three sessions, although prices lingered near Wednesday's highest since Jan. 4 amid forecasts of slower-than-expected Black Sea exports. The Chicago Board Of Trade most-active soybean contract rose 0.1 percent to $9.56 a bushel by 0340 GMT, having closed down 0.9 percent on Wednesday when prices hit $9.51-3/4 a bushel - the lowest since Dec. 22. Wheat slid 0.3 percent to $4.33 a bushel, having closed up 0.5 percent on Wednesday when prices hit $4.35 a bushel - the highest since Jan. 4. Corn dipped 0.1 percent to $3.48-3/4 a bushel, having closed flat in the previous session. "U.S. soybean exports are surprisingly slow and I think it is because of quality issues," said one India-based agricultural commodities analyst at an international bank. "It is difficult for U.S. soybean exports to recover now as Brazilian new-crop supplies will hit the market at the beginning of February." Analysts polled by Reuters expected the U.S. Department of Agriculture (USDA) to boost U.S. soybean stocks after a record-large harvest at the end of last year and slowing exports due to quality issues. Higher Brazilian production is likely to keep a lid on the market. Brazil's 2017-18 soybean crop is expected to be 111.8 million tonnes, 1.9 percent higher from the previous estimate, Céleres consultancy said on Tuesday. The USDA is likely to show smaller U.S. winter wheat seedings, in the agency's first forecast for 2018. Wheat exports from Ukraine are running behind last season with 11.4 million tonnes of wheat exported since July, down from 12 million tonnes at the same point last year, the agriculture ministry said on Wednesday. Farming agency FranceAgriMer lowered its forecast for French soft wheat exports outside the European Union this season for a third straight month on Wednesday, predicting 9.3 million tonnes versus 9.5 million last month. Commodity funds were net sellers of CBOT soybean, soyoil, soymeal and corn futures contracts on Wednesday and net buyers of wheat, traders said.

Grains prices at 0340 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 433.00 -1.25 -0.29% +0.17% 426.64 59 CBOT corn 348.75 -0.25 -0.07% -0.07% 351.08 42 CBOT soy 956.00 1.00 +0.10% -0.80% 979.77 32 CBOT rice 11.98 $0.07 +0.59% +0.25% $12.13 47 WTI crude 63.47 -$0.10 -0.16% +0.81% $59.03 81

Currencies

Euro/dlr $1.195 $0.000 +0.01% +0.09% USD/AUD 0.7850 0.001 +0.10% +0.35%

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

(Reporting by Naveen Thukral; editing by Richard Pullin)