* Wheat inches down after 2 pct rebound on Wednesday
* Rain could hamper U.S. wheat harvest progress
* Soybeans tick down as U.S.-China trade worries remain
(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, June 21 (Reuters) - Chicago grain and soybean futures were little changed on Thursday as investors waited to see whether a U.S.-Chinese trade dispute would escalate and watched for more indications on harvest prospects. A broadly stronger dollar also weighed on grain prices, making U.S. commodities more expensive overseas. Grain markets were also watching for weekly U.S. export data at 1230 GMT. The most-active wheat contract on the Chicago Board of Trade was unchanged on the day at $4.99-1/4 a bushel by 1147 GMT. The contract had climbed more than 2 percent in the last session in a rebound from a two-month low on Tuesday. CBOT soybeans edged down 0.2 percent to $8.87-1/2 a bushel as the oilseed continued to consolidate above Tuesday's near 10-year low. Corn inched up 0.3 percent to $3.55-1/4 a bushel. Global trade tensions have curbed a recent rally in wheat markets linked to adverse weather in several major production countries. Analysts said crop risks in countries like Russia and Australia could come back into view. "We expect the global wheat market to transition from comfortable to balanced supply conditions during the 2018 season," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. "Prices have now fallen to levels that we would think of as low compared to where we expect prices to be by season end." Harvest progress in the southern United States has partly offset supply concerns. Persisting worries about a fully fledged trade war between Washington and Beijing continued to hang over the soybean market in particular. "Grain markets are waiting for further news from the world's largest economies on their next step in the trade wars," U.S. brokerage Allendale said in a note. Soybeans are the biggest single U.S. agricultural export to China and face retaliatory tariffs by Bejiing. U.S. pork and fruit are also in line for tariffs. Favourable growing weather for corn and soy in the U.S. Midwest also remained a curb on prices. "Barring a few exceptions like the Delta and Southern Plains, few risks to U.S. corn and soybean yields (are expected) through rest of June," Thomson Reuters Agriculture Research analysts said. Commodity funds were net buyers of CBOT wheat and soyoil futures contracts on Wednesday and net sellers of soybeans, soymeal and corn, traders said.
Prices at 1147 GMT
Last Change Pct End Ytd Pct Move 2017 Move CBOT wheat 499.25 0.00 0.00 427.00 16.92 CBOT corn 355.25 1.00 0.28 350.75 1.28 CBOT soy 887.50 -2.00 -0.22 961.75 -7.72 Paris wheat Dec 179.25 1.25 0.70 170.00 5.44 Paris maize Aug 163.75 -0.25 -0.15 167.75 -2.38 Paris rape Aug 349.50 -0.25 -0.07 349.00 0.14 WTI crude oil 64.80 -0.91 -1.38 60.42 7.25 Euro/dlr 1.15 0.00 -0.24
Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne
(Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore Editing by Vyas Mohan and Edmund Blair)