Wires

GRAINS-Soybeans at one-year top, corn firms after deep losses

SINGAPORE, July 1 (Reuters) - Chicago soybean futures rose for a second session on Monday to a one-year high as a thaw in U.S.-China trade relations following talks between the two nations underpinned the market. Corn ticked higher after Friday's deep losses, while wheat lost ground.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of Trade rose 0.7% to $9.29 a bushel by 0121 GMT after marking it highest since June 2018 at $9.34 a bushel.

* Corn added 0.1% to $4.25 a bushel, while wheat was down 0.4% at $5.25 a bushel.

* The United States and China agreed on Saturday to restart trade talks after President Donald Trump offered concessions including no new tariffs and an easing of restrictions on tech company Huawei in order to reduce tensions with Beijing.

* The corn market faced pressure on Friday after the U.S. Department of Agriculture (USDA) pegged U.S. planted acres well above trade expectations despite rains and flooding this spring that disrupted sowing.

* In its annual acreage report on Friday, the USDA said U.S. farmers seeded 91.7 million acres of corn and 80.0 million acres of soybeans. This compares with the government's March forecasts of 92.8 million corn acres and 84.6 million soybean acres.

MARKET NEWS

* Stocks rallied and bonds retreated in Asia on Monday as a thaw in the Sino-U.S. trade dispute tempered risks to the global economy, leading investors to pare wagers on aggressive policy easing by the major central banks.

DATA/EVENTS (GMT)

0030 Japan Nikkei Mfg PMI June0030 Indonesia Nikkei PMI June0145 China Caixin Mfg PMI Final June0400 Indonesia Inflation YY June0500 India Nikkei Markit Mfg PMI June0600 Russia Markit Mfg PMI June0750 France Markit Mfg PMI June0755 Germany Markit/BME Mfg PMI June0755 Germany Unemployment Chg SA June0755 Germany Unemployment Rate SA June0800 Euro Zone Markit Mfg Final PMI June0830 UK Markit/CIPS Mfg PMI June0900 Euro Zone Unemployment Rate May1300 Brazil Markit Mfg PMI June1345 US Markit Mfg PMI Final June1400 US ISM Manufacturing PMI June

Grains prices at 0121 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 525.00 -2.25 -0.43% -3.98% 518.07 50CBOT corn 425.00 0.25 +0.06% -3.41% 426.78 33CBOT soy 929.00 6.00 +0.65% +4.65% 877.84 62CBOT rice 11.64 $0.06 +0.56% +1.26% $11.82 49WTI crude 59.59 $1.12 +1.92% +0.27% $56.19

Currencies

Euro/dlr $1.135 -$0.002 -0.13% -0.13%USD/AUD 0.7008 -0.001 -0.17% +0.00%

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

(Reporting by Naveen Thukral; editing by Uttaresh.V)