GRAINS-Prices steady as market waits on harvest, trade news

Gus Trompiz and Naveen Thukral

* Chicago corn futures rise for 1st time in 5 sessions

* Dry weather seen boosting U.S. harvest gathers pace

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Nov 6 (Reuters) - Chicago corn, wheat and soybean futures ticked higher on Wednesday as investors adjusted positions in the run-up to government data that will offer more clues on the U.S. harvest while also awaiting developments in U.S.-Chinese trade talks. A weaker dollar lent some support to U.S. grain futures, but a drier weather outlook for the Midwest that could accelerate harvesting continued to cap corn and soybean prices. The most-active corn contract on the Chicago Board Of Trade was up 0.5% at $3.83-3/4 a bushel by 1243 GMT, breaking a run of four falling sessions that had seen the contract touch its lowest in over three weeks on Tuesday. CBOT soybeans inched up a quarter of a cent to $9.34-1/2 a bushel. Wheat added 0.4% to $5.17-1/2 a bushel, extending a bounce seen on Tuesday. Attention is turning to Friday's monthly supply and demand report from the U.S. Department of Agriculture (USDA) for a fresh indication on this year's rain-disrupted U.S. corn and soybean crops as well as drought-hit southern hemisphere wheat production. "The market is seeking new bullish elements," consultancy Agritel said in a note. "Weather conditions are improving on the Corn Belt, which should allow a clear advance of harvest work." The size of the U.S. corn and soybean crops remains uncertain following exceptionally late planting in spring and harsh weather at the start of harvesting. Traders were continuing to assess prospects for a first-stage agreement between Washington and Beijing to defuse their year-old trade dispute. China is pushing U.S. President Donald Trump to remove more tariffs imposed in September as part of a "phase one" trade deal, sources familiar with the talks said on Monday.

An agreement could revive big flows of U.S. soybeans to China while also potentially bringing some extra exports to a corn market that has been weighed down by weak demand. The wheat market is being underpinned by estimates of lower production in Australia. Commodity brokerage INTL FCStone said on Wednesday a poll of its clients estimated Australian wheat production during the 2019/29 season at 15.54 million tonnes, 19.1% lower than Australia's official estimate. A recent run of tenders by importing countries has also underpinned wheat prices, despite U.S. supplies being uncompetitive in many cases. "There was a good round of demand and some low production estimates in the Southern Hemisphere," a European trader said of wheat. "Now it looks like sideways trading."

Prices at 1243 GMT

Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 517.50 2.25 0.44 503.25 2.83CBOT corn 383.75 2.00 0.52 375.00 2.33CBOT soy 934.50 0.25 0.03 895.00 4.41Paris wheat Dec 178.50 0.75 0.42 191.25 -6.67Paris maize Jan 165.00 1.00 0.61 175.00 -5.71Paris rape Feb 387.00 1.25 0.32 366.00 5.74WTI crude oil 57.02 -0.21 -0.37 45.41 25.57Euro/dlr 1.11 0.00 0.12 1.1469 -3.33

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 Aditya Soni and Chizu Nomiyama)