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GRAINS-Wheat edges down, but lingers near six-day high

SYDNEY, Jan 11 (Reuters) - U.S. wheat futures edged lower for the first time in three sessions on Thursday, though prices lingered near a six-day high amid forecasts for lower French production and slower-than-expected Black Sea exports.

FUNDAMENTALS

* The most active wheat futures on the Chicago Board Of Trade were down 0.2 percent to $4.33-1/4 a bushel by 0214 GMT, having closed up 0.5 percent on Wednesday when prices hit $4.35 a bushel - the highest since January 4.

* The most active soybean futures were unchanged at $9.54-3/4 a bushel, having closed down 0.9 percent on Wednesday when prices hit $9.51-3/4 a bushel - the lowest since December 22.

* The most active corn futures were unchanged at $3.49 a bushel, having closed flat in the previous session.

* Analysts polled by Reuters expected the 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.

* 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 expected 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.

MARKET NEWS

* The dollar nursed its losses against the yen on Thursday, having suffered its biggest one-day drop in nearly eight months following a report that China was ready to slow or halt its purchases of U.S. Treasuries.

* Oil prices held near three-year highs on Thursday, supported by a surprise drop in U.S. production and lower crude inventories, although analysts increasingly warned of signs that fuel markets have overheated.

* The three major U.S. stock indexes ended lower on Wednesday after a choppy trading session as investors worried that China would slow U.S. government bond purchases and that U.S. President Donald Trump would end a key trade agreement.

DATA/EVENTS (GMT)

0900 Germany Full Year GDP 2017 1000 Euro Zone Industrial Production Nov

Grains prices at 0214 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 433.25 -1.00 -0.23% +0.23% 426.65 59 CBOT corn 349.00 0.00 +0.00% +0.00% 351.08 46 CBOT soy 954.75 -0.25 -0.03% -0.93% 979.73 32 CBOT rice 11.90 $0.00 -0.04% -0.38% $12.13 47 WTI crude 63.52 -$0.05 -0.08% +0.89% $59.03 81

Currencies

Euro/dlr $1.196 $0.001 +0.12% +0.20% USD/AUD 0.7872 0.003 +0.38% +0.63%

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

(Reporting by Colin Packham; Editing by Sunil Nair)