Wires

GRAINS-Soybeans rise for third session on China-U.S. trade deal hopes

SYDNEY, Nov 18 (Reuters) - U.S. soybean futures edged higher on Monday, extending gains into a third session, as hopes grew that a trade deal between Washington and Beijing could be signed soon following a report of "constructive talks" over the weekend.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were up 0.1% at $9.19-1/2 a bushel by 0135 GMT, having firmed 0.2% on Friday.

* The most active corn futures were unchanged at $3.71-1/4 a bushel, after hitting $3.70-1/2 a bushel - the lowest since Sep. 27. Corn settled 1.2% lower on Friday.

* The most active wheat futures were little changed at $5.03 a bushel, having closed down 1% on Friday.

* China and the United States discussed each other's core issues for the first phase of an initial trade agreement, and agreed to maintain close communication, according to state media Xinhua.

* White House economic adviser Larry Kudlow said last week that the two sides were "getting close" to a deal.

Traders and farmers are paying close attention to trade negotiations because U.S. agricultural exports have suffered since Beijing imposed retaliatory tariffs on American soybeans and other farm goods in 2018 as part of the trade war.

* U.S. oilseed processors crushed a record-large volume of soybeans in October, according to data from the National Oilseed Processors Association.

* Weekly U.S. corn export sales were in line with analysts' estimates at 581,600 tonnes. Weekly U.S. wheat export sales of 238,600 tonnes were near the low end of forecast.

MARKET NEWS

* Major currencies were off to a cautious start on Monday as market players looked to whether Washington and Beijing can soon sign off on a deal to end their trade war that has been a drag on the global economic growth.

* Oil prices were little changed following steady gains in the previous week with investors awaiting fresh clues over prospects for a trade deal between the United States and China, shrugging off concerns over steadily rising oil supplies. (Reporting by Colin Packham; Editing by Subhranshu Sahu)