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GRAINS-Wheat slips back after rebound as demand doubts persist

Gus Trompiz and Naveen Thukral

* Wheat dips after Tuesday's 5.7 pct rally, biggest since July

* Sluggish exports, ample supplies seen keeping lid on prices

* Soybeans, corn edge lower as China news watched

(Updates with European trading, changes byline/dateline) PAIRS/SINGAPORE, March 13 (Reuters) - Chicago wheat futures fell on Wednesday, giving back some of their large technical gains from a day earlier, as concerns about sluggish export demand and large stocks weighed on the market. Soybeans ticked lower, dented by uncertainty over trade U.S.-Chinese trade negotiations and worries that swine disease will curb demand for livestock feed in China, regardless of any trade deal with Washington. Corn also inched down. The most-active wheat contract on the Chicago Board Of Trade was down 1.5 percent at $4.46-1/4 a bushel, by the end of the overnight session. In the previous session it rose 5.7 percent, the biggest one-day gain since late July, in an abrupt recovery from a one-year low struck on Monday. "We think prices had fallen too low that is why we saw Tuesday's rally," said Ole Houe, director of advisory services at IKON Commodities in Sydney. "Supply pressure is likely to prevent a rally," he added. Hopes of an upturn in U.S. wheat exports, supported by lower prices, have been tempered by competition from other export zones such as western Europe and the Black Sea region. Black Sea wheat exporters are boosting sales to Asia with last year's crop, a surprise move that is curbing demand for U.S. grain, traders said. Improving prospects for this year's harvests in the northern hemisphere have also weighed on wheat. The U.S. Department of Agriculture said on Monday that good-to-excellent ratings for winter wheat in Kansas, the largest U.S. production state for the crop, rose 2 percentage points to 51 percent in the latest week. "In order to really change the trend from lower to higher, the (wheat) market would require either a significant agreement between China and the U.S., or climate issues in one of the major producing countries," consultancy Agritel said in a note. A negotiating truce between Washington and Beijing to resolve a tariff dispute has brought large purchases of U.S. soybeans. But without a trade agreement it is unclear if soybean flows will resume their previous level, and if China will turn to U.S. corn and wheat to cover its import needs. The United States and China may be in the final weeks of discussions to hammer out a deal to ease the tariffs dispute, U.S. Trade Representative Robert Lighthizer said on Tuesday.

Prices at 1325 GMT

Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 446.25 -6.75 -1.49 503.25 -11.33CBOT corn 365.00 -0.75 -0.21 375.00 -2.67CBOT soy 894.75 -2.25 -0.25 895.00 -0.03Paris wheat May 184.00 -0.25 -0.14 205.00 -10.24Paris maize Jun 169.75 0.50 0.30 184.50 -7.99Paris rape May 360.00 0.00 0.00 365.25 -1.44WTI crude oil 57.73 0.86 1.51 45.41 27.13Euro/dlr 1.13 0.00 0.15 1.1469 -1.45

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 Subhranshu Sahu and David Evans)