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GRAINS-Soybeans edge higher, Chinese tariffs cap gains

SYDNEY, April 5 (Reuters) - U.S. soybeans edged higher on Thursday, rebounding from a near two-month low touched in the previous session, though China's decision to impose tough new tariffs on U.S. agricultural products is keeping a lid on prices.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were up 0.3 percent to $10.18-1/4 a bushel by 0033 GMT, having closed down 2.2 percent on Wednesday when prices hit a low of $9.83-1/2 a bushel - the lowest since Feb 9.

* The most active corn futures were up 0.2 percent to $3.81-3/4 a bushel, having slumped 1.9 percent in the previous session when prices hit a low of $3.72 a bushel - the lowest since March 23.

* The most active wheat futures were up 0.9 percent to $4.59-3/4 a bushel, having closed down 0.4 percent on Wednesday.

* China announced it would impose tariffs on U.S. agricultural products, planes and chemicals in response to Washington's proposed duties on Chinese electronics and other exports.

* The U.S. Department of Agriculture on Wednesday said China bought 129,000 tonnes of U.S. soybeans within the past 24 hours and 325,000 tonnes were sold to unidentified destinations.

MARKET NEWS

* The dollar recovered against the yen and Swiss franc on Wednesday, bolstered by a rebound on Wall Street, as investors turned less pessimistic about the impact of China's move to slap tariffs on key U.S. imports in response to a similar measure from the United States.

* Oil prices settled slightly lower on Wednesday, as a surprise draw in U.S. crude stockpiles triggered a rebound from session lows hit after China proposed a broad range of tariffs on U.S. exports that fed fears of a trade war.

* Wall Street's three major indexes staged a comeback to close around 1 percent higher on Wednesday as investors turned their focus to earnings and away from a trade conflict between the United States and China that wreaked havoc in earlier trading.

DATA AHEAD (GMT)

0600 Germany Industrial orders Feb 0750 France Markit services PMI Mar 0800 Euro zone Markit services PMI final Mar 0855 Germany Markit services PMI Mar 0900 Euro zone Producer prices Feb 0900 Euro zone Retail sales Feb 1230 U.S. Weekly jobless claims 1230 U.S. International trade Feb

Grains prices at 0033 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 459.75 4.00 +0.88% +0.49% 473.23 55 CBOT corn 381.75 0.75 +0.20% -1.74% 382.28 52 CBOT soy 1018.25 3.00 +0.30% -1.90% 1042.23 41 CBOT rice 12.42 $0.00 +0.00% +0.89% $12.35 59 WTI crude 63.56 $0.19 +0.30% +0.08% $62.88 48

Currencies

Euro/dlr $1.229 $0.001 +0.07% +0.13% USD/AUD 0.7709 -0.001 -0.09% +0.34%

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

(Reporting by Colin Packham Editing by Aaron Sheldrick)