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GRAINS-Soybean prices edge down as U.S.-China trade war overshadows market

SYDNEY, Aug 8 (Reuters) - U.S. soybean futures inched down on Thursday as traders remained anxious about a protracted trade war between Washington and Beijing that is threatening oilseed trading.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board of Trade were down 0.1% at $8.65-1/2 a bushel by 0047 GMT, having firmed 0.1% on Wednesday.

* The most active corn futures were little changed at $4.14-1/4 a bushel, after gaining 0.4% in the previous session.

* The most active wheat futures were down 0.1% at $4.87-3/4 a bushel, having closed up 0.9% on Wednesday.

* China has halted U.S. agricultural purchases in a deepening trade war with Washington, while overall Chinese demand for soybeans is set to be cut by a swine disease that has decimated the world's biggest pig herd.

* The U.S. Department of Agriculture will on Monday update its planting estimates for various crops, amid widely differing market assessments of this year's acreage.

MARKET NEWS

* The Japanese yen rose to an eight-month high against the dollar on Wednesday and the Swiss franc gained as worries over flagging international growth sent investors to safe-haven currencies.

* Oil prices tumbled nearly 5% on Wednesday after an unexpected build in U.S. crude stockpiles and on fears of slowing demand, but halved their losses in post-settlement trade on talk that Saudi Arabia was mulling options to halt crude's descent, alongside other producers.

* The S&P 500 recovered from steep early losses to end slightly higher on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession.

DATA/EVENTS AHEAD (GMT)

1200 Brazil IPCA Inflation Index MM July1230 US Initial Jobless Claims weeklyN/A China Exports YY JulyN/A China Imports YY JulyN/A China Trade Balance USD July

Grains prices at 0047 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 487.75 -0.50 -0.10% +0.77% 502.48 44CBOT corn 414.25 0.25 +0.06% +0.42% 429.76 44CBOT soy 865.50 -1.25 -0.14% -0.03% 898.46 25CBOT rice 11.40 $0.02 +0.22% +0.49% $11.77 27WTI crude 52.50 $1.41 +2.76% -2.11% $56.85 37

Currencies

Euro/dlr $1.121 $0.001 +0.11% +0.10%USD/AUD 0.6758 0.000 +0.04% -0.03%

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

(Reporting by Colin Packham; Editing by Joseph Radford)