GRAINS-Wheat ticks up after losses, global production outlook cap gains

SINGAPORE, April 17 (Reuters) - Chicago wheat futures edged up on Wednesday, supported as investors looked for bargains after the market dropped to a one-month low in the last session on pressure from expectations of bumper production across the northern hemisphere. Corn prices lost ground, while soybeans were unchanged in early Asian trade.

FUNDAMENTALS

* The most-active wheat contract on the Chicago Board of Trade had climbed 0.1 percent to $4.45-1/2 a bushel by 0015 GMT, after dropping to its lowest since March 13 at $4.42 a bushel on Tuesday.

* Corn lost 0.1 percent to $3.58-3/4 a bushel, while soybeans were unchanged at $8.88 a bushel.

* The wheat market is coming under pressure as crop-friendly weather boosts crops across the northern hemisphere.

* The U.S. Department of Agriculture in a weekly report issued on Monday rated 60 percent of the U.S. winter wheat crop in good-to-excellent condition. That was unchanged from the previous week and in line with trade expectations, but up from 31 percent a year ago.

* Agriculture consultancy SovEcon has raised its forecast for Russia's 2019 wheat crop to 83.4 million tonnes from 80 million tonnes, signaling bigger supplies in the world's top exporter.

* Germany's 2019 wheat harvest will jump 20.6 percent on the year to 24.44 million tonnes with rising expectations of a recovery after the drought-reduced harvest last year, the country's association of farm cooperatives (DRV) said on Tuesday.

* Hopes for a positive outcome from U.S. trade talks are likely to aid soybean prices.

* China would likely lift a ban on U.S. poultry as part of a trade deal and may buy more pork to meet a growing supply deficit, but it is not willing to allow a prohibited growth drug used in roughly half the U.S. hog herd, two sources with knowledge of the negotiations said.

* The United States and China are trying to hammer out a deal to end a months-long trade war that has cost the world's two largest economies billions and roiled global financial markets and supply chains.

MARKET NEWS

* Stocks around the globe rose on Tuesday to six-month highs as positive economic data in China and Germany boosted investor sentiment, though concerns about the impact of U.S. policy on the healthcare sector paused Wall Street's rally.

DATA/EVENTS

0200 China Urban Investment (ytd) YY March 0200 China Industrial Output YY March 0200 China Retail Sales YY March 0200 China GDP YY Q1 0830 UK CPI YY March 0900 EU HICP Final MM YY March 1230 US International Trade Feb 1300 Russia Unemployment Rate March 1800 Federal Reserve issues the Beige Book of economic

condition

Grains prices at 0015 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 445.50 0.50 +0.11% -3.05% 458.55 31 CBOT corn 358.75 -0.25 -0.07% -1.10% 366.48 39 CBOT soy 888.00 0.00 +0.00% -1.20% 898.57 39 CBOT rice 10.53 $0.01 +0.14% -0.24% $10.74 50 WTI crude 64.36 $0.31 +0.48% +1.51% $60.68

Currencies

Euro/dlr $1.128 $0.000 +0.03% -0.21% USD/AUD 0.7166 -0.001 -0.13% -0.10%

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

(Reporting by Naveen Thukral; Editing by Joseph Radford)