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GRAINS-Corn hits 5-week high on planting delay concerns

SYDNEY, May 2 (Reuters) - U.S. corn futures edged up on Thursday to hit a five-week high as forecasts for further rains across a key growing region stoked fears of widespread planting delays.


* The most active corn futures on the Chicago Board Of Trade were up 0.1 percent at $3.68-3/4 by 0131 GMT, near the session high of $3.69-1/2 a bushel - the highest since March 29. Corn gained 1.7 percent in the previous session.

* The most active soybean futures were little changed at $8.51-1/2 a bushel, having fallen 0.3 percent on Wednesday when prices hit a low of $8.44-1/4 a bushel - the lowest since Oct 29.

* The most active wheat futures were up 0.1 percent at $4.36-1/4 a bushel, having closed up 1.7 percent on Wednesday.

* Corn drew support from concerns that wet weather across the U.S. Midwest will slow planting.

* The U.S. Department of Agriculture said this week that 15 percent of the U.S. corn crop had been planted as of April 28, in line with a year ago but well behind the average pace of 27 percent.

* Soybean market eyes U.S.-China trade talks.

* The two nations held "productive" trade talks in Beijing on Wednesday and will continue discussions in Washington next week, U.S. Treasury Secretary Steven Mnuchin said.


* The dollar took a breather in Asia on Thursday after recovering from a brief spill overnight when markets were whipsawed by mixed messages on policy from the Federal Reserve.

* Oil prices dipped on Thursday after data showed record U.S. crude oil production, which resulted in a surge in stockpiles.

* U.S. stocks ended lower on Wednesday and the S&P 500 snapped a three-day streak of record high closes as comments from Federal Reserve Chairman Jerome Powell appeared to dampen hopes the central bank could move later this year to cut interest rates.


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(Reporting by Colin Packham; editing by Richard Pullin)